PSM as a virtual machine was too heavy / badly performing for the Vita, and it was too heavy for the PS3 as well. And at the same time it wasn't close to competitive on mobile devices for the same reason. As has often unfortunately been the case with initiatives that came from Sony Japan, it didn't have good enough programmers to back it. PS Now has a little better chance of succeeding, imho, and that's partly because a talented group (Gaikai) is behind it. Then the 'only' bottleneck becomes the business teams. But they are in better shape than they have been for a while, I think.
They should have gone for a setup that made the most of the Vita to begin with, and striving after high performance, also support PS3, while also supporting some of the basic standards. Easier said then done perhaps, but SDK development for the PS3 and Vita would have had to go hand in hand in terms of consuming these services.
In that respect, the new Vita focussed SDK and the Unity setup is much, much better. It will give the Vita a shot to actually get somewhere, and it removes the by this point pointless competition with Android and iPhone. They just don't have it in them to compete there - they would have to invest (and buy) way better software development teams for that.
EDIT: the Unity and PS Mobile 2.0 SDKs are actually already out of beta. Didn't even know that ... It goes to show how bad resources were with the original PSM:
Compressed textures are available.
Increased available memory (resource heap memory: 96MiB, graphics memory: 96MiB).
Originally, apparently compressed textures were NOT available, and you only had 96MiB in total iirc. Also, the split is interesting - it seems to suggest that a PS3 version isn't off the cards.
https://en-support.psm.playstation.net/app/answers/detail/a_id/291
And this shows that Unity SDK is quite a step ahead over what was available with PSM:
https://www.youtube.com/watch?v=fOWif2BTqeI#t=22
They should have gone for a setup that made the most of the Vita to begin with, and striving after high performance, also support PS3, while also supporting some of the basic standards. Easier said then done perhaps, but SDK development for the PS3 and Vita would have had to go hand in hand in terms of consuming these services.
In that respect, the new Vita focussed SDK and the Unity setup is much, much better. It will give the Vita a shot to actually get somewhere, and it removes the by this point pointless competition with Android and iPhone. They just don't have it in them to compete there - they would have to invest (and buy) way better software development teams for that.
EDIT: the Unity and PS Mobile 2.0 SDKs are actually already out of beta. Didn't even know that ... It goes to show how bad resources were with the original PSM:
Compressed textures are available.
Increased available memory (resource heap memory: 96MiB, graphics memory: 96MiB).
Originally, apparently compressed textures were NOT available, and you only had 96MiB in total iirc. Also, the split is interesting - it seems to suggest that a PS3 version isn't off the cards.
https://en-support.psm.playstation.net/app/answers/detail/a_id/291
And this shows that Unity SDK is quite a step ahead over what was available with PSM:
https://www.youtube.com/watch?v=fOWif2BTqeI#t=22