The longer battery life may be due to the fact that they're ditching the super-gorgeous OLED display in favor of a 5-inch LCD screen. Which some people see as a pro and other see as a con. I'm on the con side - the OLED screen is, for example, one of the reasons why Dragon's Crown looks a teensy bit better on the Vita - but the really cool news is the new memory card.
Sixty four gigs. How much will it cost? Well, 9980 yen is about $100 - but I'm betting about as much as the 32GB card costs now. Which is way too much - but I'm constantly rotating games in and out of my memory card - I'll buy it the first day it's available.