An IGN reader (hey, put those those torches and pitchforks down!) has started up a bunch of PS Vita buzz by sending an image of a supposed Blockbuster ad in the UK that gives an October 28th, 2011 European release date for the handheld. While clearly still in rumor territory, this gives prospective Vita buyers hopes of playing the system a lot sooner than anyone anticipated... at least in Europe. On a side note—Blockbuster still has brick-and-mortar stores?
Nothing about a North American release has been mentioned yet. It's too early to tell if there's any credence to this rumor, but October sounds like a pipe dream to me. I think it's in the ballpark for a potential release window, but I wouldn't bet on anything before mid-November myself. Start speculating in the comments, because if there's one thing the internet does best, it's rampant rumor-mongering!