A few weeks ago, an anonymous hacker released a dump of the flash0 from the PSP emulator running on the PS Vita. Although it brought nothing new for the end user, it was a verifiable proof that this hacker has access to a kernel exploit running on the PSP emulator.
This week, the same dev apparently got PS1 games to run on the Vita, as shown in the video below (thanks to the Z)

A few weeks ago, our forum member