Wololo wrote a blog post earlier about his thoughts on PS Suite versus VHBL which is the current way of getting homebrew and unsigned software onto your PlayStation Vita.
I agree with Wololo and will be keeping my VHBL and not updating for this PS Suite if and when it comes out.
There are lots of downsides to the Suite versus what users can get through VHBL. Some are that no free games will be accepted nor games that are open-source. You can bet that emulators like the Super Nintendo emulator or Gameboy Advance emulator will not be available through the Suite too due to Sony having Nintendo and others as competitors and it would be a legal concern for Sony.
My advice, keep VHBL if you have it. I'm keeping mine until something better comes but playing Gameboy classics has been great for me so far and I don't think that Sony will provide anything better than what unofficial developers are already contributing.
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