Buying a Vita now would not help if he would like to emulate PSP games/PSX Games right NOW. He would most certainly find a Vita with an old FW, but you need the game for an exploit as well. Sure, there is probably a new exploitable game every 3-5 months (just have a look over at wololo.net and the amount of games, which let you run an exploit, will hit you in the face), but still.
If he would like to have full PSP/PSX support now, he could simply buy a PSP which emulates PSX better. But the OP has a Vita anway, so the discussion about buying a vita is useless anyway
Otherwise you are of course right, you only need 2 vitas, not 5.
I have my Vita from the release day with the 3G module ( yeah, totally useful
) at 1.81 with Urbanix. Runs the latest TN-V like a champ and I am on such an old FW that a native Vita K-Exploit would most definetly run, I guess. The other Vita is for playing the regular Vita games. Owning 5 vitas with the background of waiting on a KExploit is dumb, owing 5 vitas because you like vitas and want to have different versions, of course not