The Vita WILL see a pricedrop sooner or later.
Its not a crazy idea to sell it while its still expensive, and buy it back once it carries a much lower price tag, and perhaps went through a revision as well. I am thinking about it, my Vita is just collecting dust now and there is really nothing I look forward to besides P4 (which isn't even confirmed for Europe I think). Its just there being useless, and will be until fall at the least.
Your point makes sense if you know that you won't use the console for a long time but consider that a PSVita redesign with a proper price drop is probably a year away.
It's pretty much clear (based on the latest fiscal results) that for the time being Sony will only do bundles with 4GB memory card+ first party game at 249$.
An interesting time to sell the Vita will be around E3 next year, especially if rumors about a redesign including new features like a 3D screen will begin to surface.
About the games.....we know that they can be announced/released at any time. Right now we're in the post launch summer drought, it would make sense to wait to see what they have in store for Gamescom/TGS.
But I guess that I'm just against selling systems, I still have my Gamecube
The way I buy things is that I simply don't buy a product until I know I'm truly interested in it.
People debating about selling the system right now probably should have waited to buy one in first place.