One thing I'd like to see in the PSV would be video out - perhaps a mini-HDMI jack. That would be a super sexy addition, even if they limited it only to video playback so as not to cannabilize PS3 sales :-)
I would like to see that too, but apparently it couldn't be included while still keeping the price low. Perhaps like the PSP it may be added into a future version of the Vita...
I suspect it has much less to do with unit cost and more with the potential loss of PS3 sales if the PSV were allowed to output games to an HDTV. Think about it - if you could plug a PSV into an HDTV and play games at a 1280 x 720 res (assuming for the moment that the new PSV may not have the horsepower to output a 1080p stream at 30 fps), then some people might not feel the need to even buy a PS3 :-)
I disagree, the NGP can't output in TV quality HD, the specs state it does 960 X 544, it looks sharp due to the small high quality screen.
Also a Sony official basically said video out wasn't added for cost issues: