At $249.99 and having cross-platform functionality with PS3, it seems like Sony's doing their best to turn around what happened at the PSP's launch. They've even gotten an impressive list of titles with one report saying there will be over 30 ready by launch including Uncharted, Killzone, and LittleBigPlanet.

Ken Levine of Irrational Games has also confirmed an exclusive Bioshock title for the system and Hideo Kojima may finally step away from Metal Gear and make his first new IP since Zone of the Enders on this system.

Confirmed Games:
Badman - Acquire
Bioshock Vita - Irrational Games
BlazBlue: Continuum Shift II Plus - Arc System Works
Broken
Call of Duty - Activision
Dragon's Crown - Vanillaware
Dungeon Defenders - Trendy Entertainment
Dust 514 - CCP Games
Dynasty Warriors - Tecmo Koei
Gravity Daze - Team Siren
Untitled Hideo Kojima Game - Kojima Productions
Hot Shots Golf Next - Clap Hanz SCE Japan Studio
Killzone - SCE Cambridge Studio
Lego Harry Potter: Years 5-7 - Traveller's Tales
Little Deviants - Bigbig Studios
LittleBigPlanet - Tarsier Studios
ModNation Racers - SCE San Diego Studio
Mortal Kombat Vita - NetherRealm Studios
Oddworld: Munch's Odyssee - Just Add Water
Oddworld: Stranger's Wrath - Just Add Water
Rayman Origins - Ubisoft
Reality Fighters - Novarama
Resistance - Nihilistic Software
Ruin - Idol Minds
Shinobido 2: Tales of the Ninja - Acquire
Silent Hill: Book of Memories - Konami
Smart As - xDev
Sound Shapes - Queasy Games
Street Fighter X Tekken - Capcom
Super Stardust Delta - Housemarque
Uncharted: Golden Abyss - Naughty Dog
Virtua Tennis 4 Sega
Wipeout 2048 - SCE
WWE '12 - THQ


All that aside there's a "leak" list that hasn't been confirmed yet(but I really hope it will be) that shows an impressive list of possible titles for Sony's new portable.

Snatcher 2(Kojima Productions)
Persona 5(Atlus)
The World Ends With Me(Square Enix)
KNIFE(Grasshopper)
Shadow Waltz(Platinum Games)
Detective Noir(Level 5)
Grim Princess(Capcom)
Ys8(Falcom)
Portable Souls(From Software) Basically a portable Dark Souls
Armored Core(From Software)


PSV also features backwards compatibility through PSN downloads, giving PSP games upscaled graphics and reformatted controls to make use of the second control stick.