Bit late to the party on this. Thanks to sn0ut for the heads up on this.
Its very interesting and stuff that has already been ported appear to work well.
HENKaku Homepage
Head on over to see how its installed and how to use it.
They also have a prebuild toolchain, so will be checking it out.
Greetings 
Now we have a actual homebrew installer for the Vita, are there any plans to recompile PSPUAE as a .vpk? It runs well on the legacy PSP so im thinking it should run ok on the Vita??
I have tried to recompile myself but I fear my brain has gone rusty over the years 