different pros and cons:
VITA TV
Pros
Plays games.. a lot of them.
Some streaming services
Cons
kind of sucks as a media streamer beyond that
needs controller if you don't already have a PS3
AppleTV
Pros
Decent media streaming OOTB.
Insane media streamer when combined with ipad/ipod/iphone and/or PC/Mac.
Cons
Currently no way to play games on it directly. Have to use airplay (either native or mirrored)
If they put games on it, still needs controller no matter what.
Both companies are in a great place to strongly reduce the severity of each of their cons.
Agreed, if you want the best movies and music you go iTunes. Games you get the vita.
In other words, you need to have both.