hi Steve, as far as emualtion goes, your in luck, but it depends if Sony don't plug the holes first when it's released over here in europe, there is an exploit under there 1.52 firmware
here's whats out there
"Developer wololo has managed to port Half-Byte Loader (HBL) to US and EU versions of PS Vita systems. According to wololo, this is a port/update as it contains additional tweaks to get additional homebrew apps to work. Since this task is done, the next step for wololo is documentation. And if Sony decides not to patch Teck4′s exploit, after the release of HBL, work on HBL for PS Vita will resume."
What an amazing achievement! Wololo has managed to get 12 more homebrew apps working on the PS Vita via the Half-Byte Loader (HBL)–all by stabilizing the HBL for Teck4′s exploit. Check out the video after the break.
Homebrew apps currently working:
Daedalus (not DaedalusX64)
youtuby video for you :
[ Show youtube player ]
althought not released yet, to my knowledge, you can find more info on this on PS3 hacks sites..
hopes this anwsers your questions