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Based on my experience with both Oculus models, 1080p isn't really enough that close to the screen and looking into the image rather than at the image.

120hz is nice, but what level of graphics are we realistically talking with two separate streams at a combined 1080p/120fps? PS2? Less than 1080 resolution and the experience suffers even more and if they compromise with the frame rate, hello nausea!

The experience with Oculus is very cool, but it is pretty much a novelty at this point. It is also cumbersome and pretty daft feeling to sit there with the headset on.

Next gen at 4k/120 and this will be ready for primetime, until then I will more than likely pass, and even then I can't see myself using it much unless something happens and the headset is super light and comfortable.