It's basically the Vita's hardware framework but in a small box format that uses a PS3 controller and a TV in place of the Vita's buttons and screen. It's limited in what games can be played on it (the list is floating around somewhere) but it can play P3P and P4G. You can get it for like 40$ on Amazon - https://www.amazon.com/PlayStation-TV-vita/dp/B00KVMHSUM
Very nice, I have not had a portable since the Gameboy Color, and now I finally got it :) Actually I bought the Vita specifically for Persona 4 (my first Megaten game), now I am also playing SMT IV. Portable gaming rules :)