http://www.justpushs...n-one-classics/The PS Vita is backwards compatible with downloadable PSP games, it seems however, that it just might not be able to play those Classic PsOne games you have downloaded.
Sony Computer Entertainment Japan posted an FAQ for the PS Vita today, and next to the part that says the device is compatible with PSP software downloaded from PSN, is a huge asterisk. It states that support for Game Archives are the exception. These Game Archives refer specifically to PsOne Classics and TurboGrafx-16 games (Japan). What this means for us is that if you were planning on playing Metal Gear Solid or Chrono Cross on your Vita, don’t get your hopes up too high as this may not be a possibility. We will keep you posted as Sony says they will release more information about this “soon”.
Aw, so no Digimon World 3 (If it would be released on PSN) *sadface*