I'm new at this, but excited about it. I think virtual reality is the next big step in gaming. I'm not sure what other applications it can have, so it's advancements will probably only happen if gamers take to it. Although, I was told once that the increases in processor power are driven almost entirely by gamers, so gamers play an important role in the big picture. Most reviewers seem to think the price is too high, starting at $600 for the oculus riff, and they seem to think the price tag will be out of reach for most gamers. I'm not sure about that.
My first concern was if virtual reality can be used with Microsoft Flight Simulator, which is now 10 years old and no longer part of Microsoft's line of products. Turns out, virtual reality is available now for both Microsoft FSX and the XPlane flight simulator, but I think it requires buying an add on software called Prepare3D. Prepare 3D also supports a few other games not specifically designed for virtual reality, but the list is limited.
Currently, the technical downside seems to be mostly about resolution with not enough pixels for great clarity. My computer which runs FSX just fine would also require a more powerful graphics card. I have a Nvidia GTX 760, and the minimum requirements for the Riff call for a GTX 960 or higher. I think the GTX 1060 runs around $400.
When I tried the demonstration video for the Oculus Riff, I didn't pay much attention to clarity, as I was overwhelmed by the emersion offered by VR and wasn't paying close attention to resolution. FSX reviewers describe the feel as like "actually flying" even considering the loss of clarity. I can sort of understand why, because the basic feel of VR is what you experience as remarkable, although I haven't tried it with a simulator. Moving your head to look around is instantaneous. There is no lag time. One thing I think I noticed is that while your field of view is the same as a monitor, it seems larger, because you always seem to looking around naturally, and what you peripheral vision can't see is always available in an instant. Also, when you turn your head to look over your shoulder, it doesn't feel at all like a monitor panning to the side. It almost perfectly feels like it does when you turn your head in real life. It's quite remarkable.
I will probably wait for more resolution (I hope this advance happens quickly), since with FSX you are often looking forward for 100 miles, and at least one reviewer commented about a very noticeable decrease in clarity, which suffers enough close up, but is exaggerated even more (more pixilation) at long distances. But this thing is definitely on the right track, I think. One review noted that there just isn't enough content to keep you playing in virtual reality all day. So the future of VR probably rests on interest from gamers and their pocketbooks.