Who's spending big bucks on a handheld system to play PSone titles anyway?

The news was revealed in a Japanese Q&A translated by Andriasang.

The question read, "Can Vita play PlayStation Game Archives games?" to which Sony responded, "It won't be supported at the time of the PS Vita launch. Regarding future support, we'll share details later."

The term "Game Archives" in Japan constitutes original PlayStation and PC Engine downloads from the PlayStation Store. It sounds like this is just a launch issue though, and support will be added soon.

You'll be playing that copy of Theme Park in no time.