Couldn't find a thread on this so thought I'd start the ball rolling with a look at the Occulus and what it could achieve in the next few years.  Facebook news aside which personally I think is a good thing, they have mass market appeal and the ability to get it in more homes than just a small few big rigged PC gamers. 

http://www.oculusvr.com/

Star Citizen

https://robertsspaceindustries.com/

Elite Dangerous

https://www.kickstarter.com/projects/1461411552/elite-dangerous

And just yesterday I watched a video where a guy placed 3 old 360 Kinnects around a room to get a blurry but accurate feel to improve the feel of actually being in a virtual world.  He points out there's a natural sickness seeing yourself as an avatar and with the use of a few cheap camera's its possible to create something like this:

http://www.youtube.com/watch?v=Ghgbycqb92c#ws

Later on the Kinnect cams could be replaced with much higher quality ones which in turn will improve the avatars.

I think we are on the virge of a very exciting time in games, the more the tech imprives the more immersive its going to be.  The thing is its not going to take big buck publishers to develop this stuff either, even the indie scene is getting in on it in a big way and (I can't find a link to the Kickstarter) one small company has started to do an Occulus only style graphic adventure game where you can pick up and interact with everything.

There seems to be a bit of confusion online about motion sickness.  With the first development kit they were using much lower specced HD screens and the refresh rate just wasn't high enough, but a year later as this stuff coems down in price and they can afford to put it in the build the problem seems to have been sorted.  At last VR without the throwing up 5 minutes later!

Thoughts?

Edit. Video found:

Loading Human - Developer Commentary and Unreal 4 footage Trailer - Eurogamer