
It's not a bad piece of kit, and there are some good games for it, but like any system in its first year, it's still early days yet. If you like 2D platformers, Tales from Space: Mutant Blobs Attack is excellent. Wipeout is good, but the load times are on the long side. I'm a big fan of Unit 13, but it won't appeal to everyone. Uncharted is great if you like that kind of thing. It's also great for PSP games as well - the sticks are so much better than the PSP's analog nub.
Other highlights I've heard but not tried are Gravity Rush, F1 2011 and LBP Vita, and the Assassin's Creed 3: Liberation looks good. Not sure about the CoD, I'll likely give it a look, but the mob who made it also made the somewhat average Resistance on the Vita, and wouldn't have had a lot of time to make CoD either, and have recently shed staff and noted that they're moving away from retail games - not the best signs ever!