According to ace Japanese news source Andriasang, the Vita is going to get a firmware update that will enable us all to play PSOne games (AKA 'Classics').The source has a number for the firmware update which, "was mentioned during Sony's announcement of the PlayStation 2 Game Archives service for PlayStation 3."
"Sony said today that PS Classics support will be added to Vita via the system's version 1.8 firmware update. As previously announced, this firmware update will be available some time during the Summer," it says.
Source:
Andriasang