With hardware that can compete with current-generation home consoles and a bevy of incredible titles on the horizon, the PlayStation Vita came out of E3 riding on a wave of anticipation. If the consumer electronics manufacturer hasn't managed to convince you that its next-generation handheld is a force to be reckoned with yet, the trailer above is meant for your viewing pleasure.

The footage shown is brief, running at only about a minute and a half, give or take a few seconds. However, it does a very good job of showing off some of the interesting new capabilities of the device, which go further than just the ability to play some awesome looking games. Their aim seems to be to make it much more of a community friendly device, which is certainly good news, and should definitely help them cater to a more social crowd of on the go gamers.

It comes as no surprise that cross-console play is headed to your home in the near future because the PlayStation Vita sports a quad-core processor that can almost compete with the PlayStation 3. In the trailer, which is available for your viewing pleasure above, a player displays how intuitive this feature might be, utilizing cloud-saving as a means to synchronize the handheld and the console.

As previewed earlier this year in Tokyo, the PS Vita has a feature shown in the trailer called Near, which allows users to find out what other PS Vita owners in the vicinity are currently playing and what titles are popular. The system's Party functionality was also demonstrated, showing off the console's networking features. If all of that was not enough for you, the trailer also provides us with a few short glimpses of much-anticipated titles, notably Uncharted and LittleBigPlanet.

So far, Vita is a pretty enticing package: a full-sized console that (almost) fits in the palm of your hand with a full suite of traditional controls, plus touch and motion; a machine that's online but not just for multiplayer, offering up-to-date communication and even Augmented Reality. Only time will tell if the Vita will be a success, but in the meantime an effective marketing campaign couldn't hurt.

What do you, fellow gamers, think? Was Sony's latest trailer for its forthcoming handheld impressive? Will you be thinking about trading in your 3DS's Street Pass features for the Vita's Near functionality? Sound off in the comments below.