People are already doing hacking that involves the PS Vita, but the hacking is taking place on a PS3. Apparently PS3 firmware 3.55 sees the Vita as a mobile phone, and that somehow allows the portable to play games via its Remote Play feature.
Ideally, we could play all PS3 games on the Vita via Remote Play. That doesn't work yet, unfortunately. But, from these videos of the hack running, we know it's totally possible. A post on CVG shows the Vita running Red Dead Redemption, Battlefield 3, Mortal Kombat and Batman: Arkham Asylum with no issues.
What sucks is that hackers have to fudge with some older firmware to get a system feature to work. C'mon, Sony. The Vita's big screen and dual analog sticks makes it perfect for Remote Play. We'd love it if you'd get this ready for launch next month.