I got to try out an Oculus Rift this weekend for a whole evening,
Overall i'm quite positive about the experience, even though it wasn't as great as all the hype on the internet led me to believe.
Part of that reason may be because i was using a dev kit with a pretty low res. I heard the consumer version will be with a much better resolution, so i'm very interested in that.
It's easy to see the potential of this technique however, and it will change gaming forever if they can get it to work at an acceptable quality. Especially during Half Life 2 i was amazed at how much more immersive your surroundings become. 'More' doesn't really cut it though, the entire experience is brought to a whole new level. In that sense the Oculus really gives you an insight in what the gaming-future is gonna be like.
One of the biggest challenges will be to design controllers and games that will make moving around in the VR-experience a more natural feel. Having used both the helmet in HL2 to look around, and the mouse and wsad to move around gave me nausea that lasted a solid two hours
All in all, the oculus wasn't quite the holy grail yet i made it out to be in my mind beforehand, but it sure is a great step in the right direction.