Yes, I think the iPad 3, Samsung Galaxy S III, Asus Transformer Prime, and other high end mobile devices have pretty good graphics which are comparable with the PSP, DS, 3DS, and Vita.
The Vita has better Graphic then most high end Tablets which are out now.
Windows 8 Tablets in the future with support for DirectX 11.1, Intel Core i7, and Nvidia and ATI laptop/mobile video card may have pretty good graphics as well like Project Fiona from Razer with a Intel Core i7 which could be comparable with the Vita.