I assume you still use the right analog stick to turn your body, but now you can look around independently just as you can walk one way and turn to look in another directio in real life.

Actually I can see the problem with loss of good turning control solved while using a move controller for aiming. Left analog stick for turning and walking forward/backward. You 'strafe' like in real life, run in one direction, while looking over to the right or left. Use move to aim independently again. Much more natural than the silly side stepping we've been doing since the dawn of 3D games. It might take a little while to get used to but the old silly strafing was a 'fix' for not being able to look in a different direction than where you are aiming.

racing goodness

Honestly the only place I see "real VR" being used in the home would be in driving games (simulator or arcady) simply because you sit to drive, no need to fake walk... so it makes sense, they just need to give you something to hold that looks enough like a steering wheel... 

I would love Wipeout or Crazytaxy like games that use this kind of device...

Otherwise, without the use of the sensors, I would gladly take just the helmet to have amazing stereo vision in current controller based games, no other benefits would suit me (I may prefer it in a lot of games... FPSes are among them, I don't want to hold a fake gun and have to run on a special surface to "move" in the game).

Cockpit games such as:  Racing simulators like GT7, Driving get-away games like Need for Speed, Fighter pilot games (both modern and WWII era), a Tank based game, and dare i say a Mech based game

Survival horror and racing games..but really, survival horror!

I see there are some people that are already ruling out VR as a viable medium.Let´s let time answer that for us, especially because it might/will go beyond just using it for gaming.

If you had VR experience before you would understand that you can use it for a lot of genre's...

FPA/FPR/FPP/FPH/FPS etc..

Racing games is the most logical usage for VR in my opinion since it would simulate how you sit in a car. It also doesn't need some complicated stuff they would have to think about for other genres since all you can do in the car is pretty much looking around and the rest will be done with the wheel.

I would pretty much buy a VR only for racing games as long as enough games support it (or at least GT and few other games)

I could see them having a lot of 3rd person games use this for 1st person. Imagine a game like inFAMOUS: Second Son with a VR in First Person!

I only see VR working with games that have a first person perspective because it adds immersion however it wouldn't work with anything else since it doesn't add anything.

FPS, Racing games mostly. Also TPS with the camera more close to the character.