Update: This rumor is now confirmed as true via Andriasang.com who state that PlayStation Vita version 1.8 Firmware will add PS Classics support.Sponsored Links
To quote: "We still don't have a precise start date for PS Classics support on PlayStation Vita. But we do have something a bit more specific - a firmware version number.
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.
The version 1.8 firmware update was mentioned during Sony's announcement of the PlayStation 2 Game Archives service for PlayStation 3."
Today ryukyu22 has discovered PS1 Classic game Buzz Lightyear of Star Command on the PS Vita European PlayStation Store which sparked debate as to whether Sony is adding PSOne emulation support to the new handheld console.
The video game has since been removed, and below is what he said to say to quote:
"Sorry for the bad title i just didn't want to get people's hopes up as the game is not working at the moment. However, i would like to show what i did achieve.
Firstly i was happy to buy as i had money left over from a previous purchase (pure chess) and proceeded to buy and to my surprise started to download. The average thing happened, the icon popped to the top right bubblly notificationy thingy.
20 or so minutes later (i forgot to take screen shots of the download but i took this one after : download list) Then immediately the bubble appeared on my menu. I pressed the bubble to go to the game screen perhaps this is the future layout for PS1 games!
As i entered the game i was greeted by a short loading screen the error C1-2749-2 (<-have no idea what this means [corrupt download]) I would put up screenshots of the error but it refused. It seemed to be trying to open the game in psp emulator mode as i was able to access right thumbstick mapping, bilenear filtering colour space etc the identical menu to the psp one (again i couldn't take screenshots)
And that's about it, maybe sony is to release PS1 support earlier than we all suspected. On an end note when trying to access the digital manual this appeared."
More PlayStation 3 News...