synce said:
There is ZERO chance of a PS2 emulator on Vita. The PS3 can't even emulate the PS2 without having one or two of its chips in there. I don't know how powerful the Vita is though, can it crunch the numbers better than a 3ghz quad? Because that's what you'd need for decent PCSX2 performance
The PSP was able to emulate PSX games without issue, I think Sony could be savvy enough to get one for the Vita. Also I'm pretty sure the PS3 didn't emulate the PS2, it was just backwards compatible (not via emulation). Hence why it had some of its chips in there.
PCSX2 is also made by people who are not Sony. For example, the N64 emulator for the Wii (Wii64) performs nowhere near as well as Nintendo's VC games (which are emulated). Sony designed the system, they know the most about it. Plus they have everything at their disposal to make it work, from resources to every bit of info on the PS2.