This is good compromise. It looks like all you see is the animation and dialogue that plays after the touching session. By comparison, here
is one of Sakura's scenes in the Japanese version. So we'll only be seeing the last part, where she says she'd like to spend more time together. Which is honestly the best outcome as far as I'm concerned. There's a fair amount of dialogue in those little post-petting session scenes and most of it is quite sweet and romantic, so it's good that we're not losing that. Also, you still get the relationship bonus, so people worried about losing a way to grind supports should be happy. But no "find the magic place that turns your little sister on" crap.
Also if you did buy Cold Steel on Vita vs. PS3, anyone know if theres a difference between the two? I know I've heard of previous podcast some games are more glitchy on a different system. I think I heard a while back (Not sure if it was Retro or Random Encounter) that FF 10 had a lot of bugs on the PS4. Anyone know if one is more buggier than the other?
From what I've heard, the differences are very minimal. PS3 obviously runs at a higher resolution and the frame rate slowdown and load times aren't quite as bad (though there are definitely still frame rate issues on PS3). The only other major difference is that character shadows in the Vita version are simple circles while the PS3 version has detailed shadows. I've seen people say that the text and UI is hard to read on Vita, but I haven't found that to be the case personally. I haven't heard about one version being buggier than the other (or either being buggy to begin with), so if you're interested, I'd say get it for whatever system you'd rather play it on.
I picked it up on Vita partly because I was out of town when it came out, but also partly because I love having a console RPG experience that I can play anywhere. That was part of the magic with P4G and Cold Steel is the same; it's kind of crazy to think we can have these full fledged, meaty RPGs with us wherever we go. One of the reasons I love my Vita very much.