1:1 with the KZ3 engine? Skeptical.
And you continue to overestimate it. There isn't a single PS3 level game on there yet, bro. :/
I wouldn't go so fast. No it is not exactly as powerful as a PS3, that said it doesnt mean that it can't be 1:1 with PS3 engines. 1:1 I take as meaning it can do everything KZ3 does on PS3, just at slightly lower fidelity. Much like Crysis 1 on consoles does everything from sunshafts, destruction, reflections, motion blur, bending vegetation, draw distance, enemy count, shadows, etc... but sacrifices the fidelity of those things. They are there, they just don't always look as nice as the PC version.
LBP2 and LBPV look nearly identical graphically.
Uncharted GA looks amazing aside from IQ, and that can be easily forgiven considering it was a day 1 launch title.
Other games mentioned above also look near indistinguishable from their PS3 counterparts.
Will we see Uncharted 3 or the Last of Us quality on Vita? No. But you will certainly be surprised on what they squeeze out of this device.