Nice video showng basic information on the upcoming PSVita TV. 

http://gematsu.com/2013/11/ps-vita-tv-hello-introduction-video

Here’s the run-down:

You can play PS Vita games on your TV.

You can use the same save data across PS Vita TV and PS Vita to take your games on the go and back.

If your friends are over, you can play ad-hoc multiplayer while three friends are on their PS Vitas and you’re on PS Vita TV.

There are many supported video services like Tsutaya TV, Nico Nico, Hulu, TV Dogatch, and more.

There are various supported entertainment services like Music Unlimited, Reader, Joysound.TV Plus, Radiko.jp, Twitter, internet browser, and Nasne.

If your PlayStation 4 is in one room, you can play it in another room via PS Vita TV remote play.

I want one of these so bad...

Me too :(

Perfect use for my old 32GB memory card.

I wouldn't use this because I treat handhelds like console games, so for me this would be moot. However, I can see this being more of a hit in the US, Sony should release this over here.

so will Vita be able to use PS3/PS4 controller to play its game itself with a new firmware when VitaTV released...??

it will be great for Vita users that had big hands problem controlling with Vita...

It's coming.

It would just be ridiculous to release this and the PS4 at the same time. Consumers would be so confused!

What abou the U.K and Australia?

If I can't get one in Aus, I may pic one up online.... Import all my games.