I assume that it will be the Vita "Reload" versions of both 1 and 2. They haven't said either way, but I'd be surprised if it wasn't.
Either way, I will be picking this one up at launch. I already have a few Vita titles that I've been collecting [Persona 4 Golden, Muramasa, Senran Kagura: Shinovi VS, Virtue's Last Reward, etc.] for when I do eventually purchase a Vita, but Danganronpa will probably be the title that pushes me to purchase the handheld immediately [instead of waiting for a more substantial price-drop].
I'm so happy right now.
Edit - It seems when I was posting this, the handheld was revealed. Vita it is!