Lol, PS Vita is definetly worth the $199 price tag that it's at now.
I got one for my birthday last month and I really like it. The touch screen is smooth, the graphics look really good for a hand held device, the screen is nice, battery life is solid, the buttons aren't too small, works great with the PS4, and it's just a useful thing to have sometimes.
Of course there are some negatives to the PS Vita like the buttons aren't small but they are not exactly big either, game library is not that strong, no second trigger buttons, could be awkward to hold at times due to touch pad on back, and 4GB memory stick is pretty useless (32 or 16 GB would be the ones to get).
Overall, if you don't already have a Vita then you should consider getting one. Probably on Boxing Day since it'll drop in price, it's also more useful if you have a PS4.