Normally, we aren't in the habit of linking to other sources when it comes to reviews.
But this is a special case; Engadget has the first fully detailed analysis of the PlayStation Vita (the Japanese version, obviously), and it's well worth a read.
Essentially, it's a very positive review. They're impressed with the sheer level of technology that's placed in the palm of our hands, and the OLED screen remains sharp and "comfortable on the eyes." The basic controls, especially the analog sticks, work very well, and the availability and diversity of the software is a huge plus. Here's part of the wrap-up:
"The Vita is a beast. The first-string gaming selection really gives us a scale of portable gaming not seen before, while the ability to dip in and out remains effortless. For extended play, the OLED screen is sharp and comfortable on the eyes, although we worry how long it'll last unblemished in the rough-and-tumble of everyday use. The controls, too, soon felt familiar to these gaming paws. The additional analog stick now makes the device a close substitute for the PS3's DualShock."
That being said, there's one thing they definitely want: longer battery life. The device only goes for three hours if you're using it to full capacity; "a battery performance that's enough to make even the Thunderbolt smirk." But the review does say there's "a space for this kind of premium gaming," so long as you can't find anything even remotely like Uncharted: Golden Abyss for $5 on Android or iOS.
And that, we can easily understand.