Ouch, this will sting - quite a bit. Sony's big show at E3 will be a PS4 fest according to sources talking to Dualshockers. The complete lack of development news for Vita from Sony itself suggests it is dead as a western development machine, outside of the indie scene.
Even once reliable portable coders like Sony Bend, Media Molecule and Ready at Dawn are all focused on big-name PS4 projects, so unless there's a Vita spin-off in the works, put a fork in it for the kind of games the PSP used to support. No Gran Turismo, no Syphon Filter, no WipEout, no nuffink! There are lots of third parties due to present at Sony's event but none of them have shown much interest in the V recently.
There's a small chance that Sony might be holding things back for Gamescom (Uncharted) or Tokyo Game Show (Gran Turismo perhaps?), but -- if true -- this really sounds like a closing door on one chapter of the Vita's existence. Just as well those Japanese games and indies are flowing in. Enjoy Borderlands 2 while you can folks!
The only firm bit of Vita news (if you can believe a bunch of rumours) is a price drop, which hasn't helped noticeably before and probably won't help much this time. Cutting the price of memory cards (again) will only help existing users, in fact the only good thing to come out of this would be the Japanese colour schemes coming west.