I went to the Microsoft store by my house where they have a demo of the HTC Vive. I asked to try the demo and there is a guy there to help you through the whole thing.
After I put the goggles on, it took me a second to realize the wall I was looking at wasn't the wall from the store but a wall inside VR. I was pretty amazed at how perfect it tracked my head movements and how real it felt to look around in the VR world. I went through different locations, one under water, one fighting robots, one in an office.
I had an interesting experience afterwards as well. When you are in VR everything makes you feel like you are inside of a different location, but there is this knowledge that outside of the world you're looking at there is another world behind it. Sitting in a restaurant I had a strange sensastion that there was something behind the real world. It was a little unsettling, made me feel like I might be in the Matrix.
I could see some future in which they took a bunch of brains and put them in machines to increase mortality, and I have to say, I think I would be ok with a computer created experience to live in if it meant I got to exist indefinitely. Assuming resolution will continue to increase, and processing power in general, I feel like one could have a fulfilling life completely inside of VR. If you were a programmer you could actually build your own reality however you want. It's would be interesting to switch out the world you know for a new one to keep things fresh. Teleportation also becomes possible in this context. And of course you could always get high res bitmaps of the real earth and live there if you wanted. Or of the moons of Jupiter. Since we don't need to breath, we could take normally inhospitable environments to humans and live comfortably inside of them.