I picked up the PlayStation Vita at launch, and still have no regrets. Ludicrous proprietary memory card prices aside (man was that a disaster, and the prices are still too high), I really enjoy Sony's newest portable, but it's become increasingly harder to get excited for it when Sony has nothing to show for it at E3.
Speaking to Game Informer, Sony president Shuhei Yoshida shines some light as to why the company didn't go guns blazing with the Vita during E3. He notes, "It’s still an independent platform you can play on. There are games for Vita, especially in Japan. However, more and more people use it as a companion device for PS4 and we are very happy that people are using it as such. We are bringing PlayStation Now to PS Vita. We are making it more of a total ecosystem, with PS4 as the central device."
He also didn't discuss any new titles coming from any major franchises, which isn't a great sign for the near future at least. So for now, it seems as if using your Vita in conjunction with your PS4 (remote play and the upcoming PlayStation Now) is the best way to use it.
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