So I think we all know what the real deal is here. Square (and other companies, and even some of the software arms of SONY intself) are all of a sudden realizing that they are not going to be able to constantly port their back catalog with premium prices. They are realizing that as soon as PSONE goes live on Vita, I have 20 new games to add to my new system, that I am not going to have to pay an additional dime for.
I don't think that's Square Enix's concern at all.
I think that Sony has realized that giving you rights to these games for all of their platforms forever may have been a mistake, but were they to make me rebuy the licences at this point, for my Vita, I think they realize that they would have a major, major, major PR issue on their hands.
You're right, they would have a terrible PR issue--which is why I don't believe this is a contributing factor
at all. They do realize that in light of the existence of Steam, iTunes, Kindle, etc., that offering you the licenses "forever" is
not a mistake. Rather, it's part of a broader strategy where companies (Valve, Apple, Amazon, etc.) foster consumer loyalty in their digital platforms, thus encouraging
continued and
repeated business.
With that in mind, I disagree that this delay is due to greed on the part of Sony and/or game publishers. They don't care that you already have 20 PS1 classic games ready to load onto your Vita. The bigger picture is that they would be able to sell PS1 classics to the millions and millions of fans that
haven't already purchased them.
Contrary to popular belief, most developers and publishers don't
want to create remakes of their old classics. They don't want to break their backs to produce "enhanced" versions of PS1 games. They would
love to sell existing PS1 games to consumers over the next 10 years, and over the next 50 years. They require very little effort compared to a new development from the ground up. Once the game is approved and posted on PSN, it's almost entirely pure profit from that point forward.
I don't think companies like Square Enix are deliberately holding Sony back from delivering the PS1 emulation on Vita. On the contrary, they want it out there as soon as possible. They're probably
seething that the PS1 emulation isn't ready yet, because if it was ready then they could've sold a lot more Final Fantasy games this week to Vita owners. That's a lot of money on the table, and Square Enix wouldn't even have to lift a finger.