If you're unsure, don't, don't take the plunge.
I've had mine since the NA launch. Before, actually: I pre-ordered the First Edition bundle, so I got it a week early. It got quite a bit of use when I first got it, but substantially less so as time when on. This summer, I barely touched it at all. I'm using it a bit more lately, and I know that, as of Tuesday, I'll be playing it a whole hell of a lot (probably shouldn't say why). I love it. It's a stellar piece of tech, and when I'm travelling between home and school (it's a four hour train ride), it's a Godsend.
But the library is just... meh. I mean, while it does a really good job with console ports - games like Mortal Kombat, Rayman Origins, and Disgaea 3 all play really well - they're just that. Ports. If you've already got them on console, there isn't a huge incentive to purchase them for the Vita. Some of them do have extra goodies, but I don't know if it's worth buying what is, at its core, the same game. And, if they weren't titles that interested you the first time around, the handheld versions aren't going to change your mind (unless you think the idea of playing them on a handheld is SOOOO cool).
It really just lacks the kind of exclusive titles it needs to be a guaranteed buy. Like, Uncharted is fine, but it obviously isn't on the level of its console brethren, so a lot of people give it a really hard time. Resistance, while it wasn't a bad attempt at a handheld first-person shooter, was just underwhelming. Games like Wipeout, LittleBigPlanet and Modnation Racers are fine, but, I mean, they amount to little more than ports, when all is said and done: a few new ideas, maybe a couple of mechanics that make use of the Vita's hardware, but they aren't different enough to make them must-haves, unless you're an uber-fan of the series. In my opinion, anyway.
I'd recommend you wait. Let the price on both the unit and the memory cards come down a little bit. Let it get its first holiday season out of the way. Next year, when some prices are lower, it'll be worth it, easily, as there will be more titles to choose from. Let Sony implement the cross-buy system. If I could go back, I'd tell last year's me to wait, as well. It will be such a better buy, overall.
