If you don't like handhelds, then i suppose this one won't change your mind. I use mine for more than just gaming. Netflix, Flickr, Facebook and Youtube all have apps for it an they are really well done.
As far as games go, once developers stop looking at it as 'psp again, lets make shitty games and ports LAWL' Then i'm sure it will do better. Ragnarok Odyssey is going to be amazing and hopefully if it sells enough they'll bring over the new Ys game for the vita as well. I really enjoy those games and hopefully it gets localized as i want to play it
Its a decent music player, and takes really quick pictures, so if you want something in the moment, its perfect. (I.E. Daughters First birthday and got great shots of her devouring a miniature cake, with minimal blur.
All in all it comes down to what you are looking for. If you're looking for the miniature ps3. Give it time. If you want an above average mobile gaming device, get the Vita. If you like Nintendo, get a DS or a 3DS. If you want a tablet, get a tablet.
But honestly, do more research, look at games coming out or that are out and get a feel for them, watch youtube Let's Plays and get a feel for the system. Head to a local game retailer and ask if they have a demo model. I did all of these things and haven't been disappointed yet with my vita. Also keep an ear to the ground as Phantasy Star Online 2 is coming to the Vita, and thats going to be absolutely amazing. Just my 2 cents worth though. Take it as you will.