chaosblade
Unconfirmed Member
Yes, the card is tied to the Vita, but the contents on the card may not need to. Even if you reset to factory defaults, you should only clear the system, not the card contents.
I don't think a factory reset will wipe the card. And I don't see a reason to assume that either, they can tie in the card to the system without making you format it if you replace the Vita.
But I think the cards content will be tied in too, games would be just like anything else from PSN (2 activations). Saves might not be encrypted/locked to the system, but who knows.