I've recently found myself actually wanting to do quite a bit of PSP gaming, what with the Persona series, Tactics Ogre, Valkyria Chronicles and quite a few Final Fantasy games available on the device. However, I really can't stand using my PSP: it's uncomfortable, and has pretty awful battery life. I've been thinking about getting a Vita, but the only game on the horizon I can really see myself buying for it is Persona 4: Golden--the rest would be supplemented by PSP games I never got around to. How do PSP games play on the Vita? Do they format to the screen well? And, most importantly, can the device be held for long periods of time without hand cramps? Should I buy one now, or wait until the Golden comes out, hoping for a price drop in between?

The games look better, it's more comfortable, and you can re-download all the games for free.

Never had a problem holding it for a long time. The only thing that feels weird is the small analogue sticks. They're like baby's first analogue sticks.

I don't think it's particularly comfortable, but I haven't gotten any significant cramping because of the machine.  PSP games are better on Vita than on PSP, in my experience.

The PSP games on the Vita are so much better! Look better, feel better if it has the camera on the face buttons you can map it to the right analog. I love that. They sell a thing that makes it easier to hold if you have big hands...It's kind of like strapping it on to a baterang or PS3 six axis. I'm also pretty sure the one model adds to the battery life so that's a plus. If you have the money go for it. I play mine everyday, and a lot of it is on PSP games like Corps Party, FF Tactics, Mega Man X, and GTA China Town Wars. I also enjoy seeing if I can get a game going on Star Wars Battlefront, or Killzone since the right analog makes it a lot more playable.

I would say that it is comfortable...if I had actual experience in holding it in my hands for longer than 15 minutes...

It has been months since the Vita launched now and there is still absolutely NOTHING to purchase for it NOR is there anything to look forward to on the horizon.

In fact...I'm just going to put this here, it sums up my feelings on the state of the Vita perfectly (skip the crazy intro lol)

@JerichoBlyth said:

It has been months since the Vita launched now and there is still absolutely NOTHING to purchase for it NOR is there anything to look forward to on the horizon.

http://us.playstation.com/psvita/games-and-media/ For a handheld thats less than 6 months old that list is looking mighty fine. If you cant find anything to play on it that's is hardly their fault.

Adding on top of that the PSP and PS1 backlog, i realize most people wont care about that but Ive certainly found my share of gems with Disgaea 2 and Persona 3:Portable, Valyrie chronicles etc

Just to reiterate, yeah, PSP games look better on the Vita than they ever did before. Sharper, more vibrant... I thought they'd look like shit stretched on the bigger screen, but it's the opposite!

OP you just asked the most important question when it comes to handhelds, in my opinion. And the answer is, yes, it is. The sticks are well placed, d-pad is of superior quality (and despite one of the best pads around, I still prefer the sticks, which goes to say how good they are), its quite comfy for extended periods. My main ergonomic gripe is with the games that use the rear touchpad, since I have large hands I just let them sprawl around the back, which triggers the rear touchpad sometimes. To hold it by the grooves would require far smaller hands than I have. This could be solved with the grip accessories, but I haven't gotten around to purchasing one.

Thats a yes on both fronts really, PSP games look great on it and the controls feel real good. On a side note the battery life isn't fantastic you can maybe get 6 hours out of solid gameplay.

I wouldn't expect a price drop anytime soon, I think Sony tried to set the price as low as they could afford to compete with the 3ds. So I wouldn't factor that into your decision.