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Sony will be updating your Vita the next time you turn it on with System Software Update v1.80. The update will include all sorts of little enhancements to your playing experience on the Vita, but most importantly, it will allow you to download and play coveted PSone classics from the PlayStation Network on August 29th.
If you have already purchased a PSone Classic for your PS3, it will be easily transferred to your Vita. The list is pretty extensive which is great for the Vita since it needs much more games, and I feel like in this day and age, a lot of PSone Classics would be better on a handheld anyway.
More PSone Classics will be added to the Vita week by week throughout the PlayStation Store’s weekly updates. Just in case you don’t see your favorite game yet, it’s probably on its way soon.
So if you ever wanted to buy an old game that is still amazing, like Twisted Metal, your favorite Final Fantasy, or The Little Mermaid 2 and Winnie the Pooh Bundle, and play it on your Vita, you’re in luck!
Here is the link to the EU PlayStation Blog for their complete list of Vita-playable PSone Classics:
The only thing is, this list only applies to European Vita owners. In North America the list of games playable is only of nine games: Arc the Lad, Cool Boarders 2, FINAL FANTASY VII, Hot Shots Golf 2, Jet MotoSyphon Filter, Tomb Raider, Twisted Metal 2 and Wild Arms. However, I’m sure the complete list of games on the European blog will be made available in North America soon.