From Famitsu's Q&A with Sony, we now have confirmation that PS1 games will not be supported at launch, however.......
Famitsu say that the PS Vita will not support game archives (downloadable PS1 games) however in response to this Sony have said that this is all speculation and nothing should be taken as fact. Though it seems like Sony is trying to say that PS1 games will be supported Famitsu have claimed that there sources are legit and the PS Vita will not support PS1 games at launch.
However Famitsu only say that PS1 games will not be supported at launch. So it is VERY likely that we shall see PS1 support in the near future. Maybe the EU/US release shall enable this feature. And hopefully my dream of playing Tekken 3 on a OLED screen will be accomplished.
Source:
http://evolveent.com/great-famitsu-says-playstation-vita-wont-support-psone-donwloads-at-launch
So then are you gutted by the lack of PS1 support? What classics were you planning on playing? Or do you not even care because all you want is the next generation PS Vita games? Let us know in the comment section below!