First the good news, Sony has put a brief update up on Resident Evil Revelations 2 for the Vita, and it should arrive sometime this summer. Now the bad news.
The post states "While we get closer to locking down the PS Vita-specific gameplay and features" which sounds like they might be having to axe modes (likely multiplayer) and some content to cram it onto the Vita. UPDATE: Looks like multiplayer will be added via a later patch.
The second is that it is being handled by Canadian team Frima, which isn't exactly looking like your top line developer here. They have some (mostly PSP) and Vita experience, lately with Zombie Tycoon 2, but aren't exactly screaming high-grade with their pixelly mobile and social titles.
Hope I'm not wrong, but I'm not exactly expecting the Vita to be screaming at full revs here. Can they optimise the engine, can they maintain a degree of visual and audio quality - or will they just cut back everything they can to get the game running in the few months they have? Guess we'll find out in summer. No pressure!
My final point is aimed at Sony who have clearly abandoned everything to do with the Vita. They can't find an in-house team to do this task? They are clearly paying peanuts (in dev terms) for the port (no offense to Frima) and are likely to hang them out to dry once the code is shipped. Imagine the biggest game of any platform this year - would you let a small team handle all that expectation?