I think you've really got to ask yourself whether waiting for a price drop is worth having to go without some entertainment that might bring you some joy and happiness...
IMHO, the Vita isn't going to drop in price for a while, Sony is losing a bit of money on every vita sold (contrary to what reports have stated).... so, if it does drop in price, I can't see it happening inside of six months of launch, and I can't see a price drop greater than $50....
Look at PSP go, for instance... That thing NEVER sold. It took a long time for it to drop in price, and here, years after its dismal launch, it's still $150 msrp...
To me, Vita is worth it.... then again, I play portables like crazy... if I didn't, I might wait, but again, I don't see a price drop in the near future... but I could be wrong.
To counter-point JQM's comment, remember that the Vita, as is all video games, is a luxury and that you don't NEED to purchase it right away, especially if you think they might drop the price.
I'm sure you have plenty of other entertainment in your other consoles and portables that you do own that you can get more longevity out of.
All in all, in comes down to you. Make the choice you feel is right by you.
Yeah and nice thumbnail too.
Anyway, the challenges look pretty fun. Not sure it'll warrant a re-purchase, but nice to see more was added.
I'm going to sound like a gamestop monkey... but what swayed me was the extra 25 bucks you get for trading in a old hand held towards it. The 2000 model PSP trades in for $50 bucks at the moment, and when we turn around and sell them for $80 that's not a awful deal at the moment... just saying.

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