Battery life is 3-5, the same as the 3DS. Both are bad. It's comparable to PSP 1000 battery life. Also, remember that it's 3-5 on the default bright (which can be 2 if it's like on the PSP, meaning you can get some extra juice from it). And Sony (and thirds) have external battery peripherals to extend the battery life. Most of people don't even play their portables outside the house, anyway. The only rushed portable in the market is 3DS.
Trackpad gimmick? Didn't knew the portable was out already... how it is?

Also, 3D is a what? Yeah, gimmick.
Just a tip: wait for the portable to be out and wait for the games that uses it to make a judgement. I can think of interesting implementations for it.
About the line-up not having many new IPS, 3DS had A LOT of ports and remakes. The best selling game of 3DS IS a port. You'll probably compare it to the one announced right now, with Mario Kart 7, Mario Land, etc. Which is the second generation of a portable that's almost 10 months in the market already. Not really a fair comparison at all.
Also, the Vita already has many new IP's, more than 3DS at least. Let's count? (Not counting the new games from existing IPS)
- @field
- Little Deviants
- Yuusha no kiroku (TBD)
- Monster Radar
- Army Corps of Hell
- LORD of APOCALYPSE
- SUMIONI
- Jurassic HUNTER
- Ragnarok Odyssey
- DRAGON'S CROWN
- Escape Plan
- Alien Spidy
- GRAVITY RUSH
- Sound Shapes
- Reality Fighters
How many ports (not counting remakes, just ports and enhanced ports, not counting multiplatform releases too)? Let's see:
BlazBlue: Continuum Shift Extend
Virtua Tennis 4 - World Tour Edition
Disgaea 3 Return
DREAM C CLUB ZERO PORTABLE
ULTIMATE MARVEL VS.CAPCOM 3
MICHAEL JACKSON THE EXPERIENCE HD
MALICIOUS
ZONE OF THE ENDERS HD EDITION
METAL GEAR SOLID HD EDITION
Little Busters! Converted Edition
NINJA GAIDEN Σ
Moe Moe Great War Modern Version ++
And that's it. From 100 games listed to be released on the launch window.
Let's see the 3DS ones? New IP's:
- Steel Diver
- Heroes of Ruin
- The Hidden
- Cubic Ninja
- Beyound Labirinth
- Skylanders: Spyro's Adventure
- Theatrhythm Final Fantasy
- Rodea The Sky Soldier
Ports:
-Asphalt 3D
-Bit.Trip.Saga
-BlazBlue: Continuum Shift II
-Super Stree Fighter 4 3D
-Harvest Moon: The Tale of Two Towns
-LEGO Star Wars III: The Clone Wars
-Metal Gear Solid: Snake Eater 3D
-Michael Jackson: The Experience
-One Piece: Unlimited Cruise SP
-The Sims 3
-UnchainBlades ReXX
-SpongeBob SquigglePants 3D
-Star Fox 64 3D
-Tales of the Abyss 3D
-The Legend of Zelda: Ocarina of Time 3D
There where even more, announced but they were not released yet. The fact is: 3DS uses a very similar strategy than Vita is using, full of games aimed at core. And in the start, both have lots and lots of ports, because that's normal for any portable at all. This shit about "console games" is the biggest BULLSHIT I've ever saw (and you're not the first at all). DS has a lot of games that would be better on the screens (even without touch controls).
You're saying that you don't see how this portable will stay in the market with what is announced so far... well, that's about the same question I made for 3DS. The launch line-up was the worst line-up I've EVER SAW in my life. And the worst from the Nintendo portables to date.