I'm not even going to consider getting the Vita untill at least a year after it's released. Perhaps pricing structures will have altered by then... OR... they will be about to release a new slimmer version of the Vita that comes with built in storage... or something like that.
There are a lot of consumers who will be taking this exact course of action. Although Nintendo has not announced a model change yet, Sony will for sure make changes several times within the Vita's life cycle, as this is what they do(I have no doubts).
I will still get the Vita, as it is still a good value for the price, but I am in the minority for sure. Many will wait for a differant model, or a price drop. If Sony runs into the same kinds of problems that Nintendo did, they really don't have a lot of choices to help drum up business. They could drop the price, but I would imagine they are already loosing a good amount on every unit sold. So I'm sure they don't want to do that until cost come down, but just like with the PS3, if the market dictates it, they may not have a choice.
I personally love handheld gaming, as I have finished more portable games in recent years than any console games over the last 20 years. For many though, handheld gaming is just about a quick play on the go, and this is why ios and android are doing so well. The Vita is well priced for hardware, but the games are still 40+, and along with memory that is included free with most new handheld devices, this just looks like an uphill battle for Sony. I hope I'm wrong though.
Maybe the games, aong with proper controls will win some over, but the world is just changing, and Sony just doesn't get it(I thought they did, but I guess not).
Chris