Well they will be selling the Vita in store for £193 I think so I imagine they'll also have other bits. That price is online though. Can't imagine it'll be any different in store tbh, Supermarkets gouge the price on launch stuff like this as it drives other business.
I've ripped a Southpark episode into 2 different quality settings (RF10 and RF20) using handbrake and am now doing the same with an episode of Game of Thrones. Will see which is better.
For anyone wanting to do the same, you'll need something like Handbrake, set the video format to MP4, resolution to either 720 or the Vitas native of 960x544 and the codec as H.264. Should work perfectly. Then all you need to choose is your quality setting. RF 20 took a 600MB South Park episode and turned it into a 96MB file and looks ok. RF 10 made it 280MB. EDIT: I'm struggling to see a difference on these two files blown up on my 24" 1080 monitor. I reckon the RF20 will look fine on the Vita.