Before I start, it is important to make one thing clear: even if I were inclined to give this thing a positive review, I would recommend not buying it because it is made by assholes.
Further disclaimer: I am basing this review on a relatively short trial experience (which I probably wouldn’t even have bothered with if I’d remembered about the assholes); I happened to be in a Best Buy store where a salesperson was giving demos and my father and I were both talked into trying it out. I think I saw enough to get a pretty good impression of what it’s like, but for the record I spent at most 10-15 minutes with the thing so that’s probably worth acknowledging.
What is Oculus Rift? Apparently released in March of last year, it’s a virtual reality headset thing with stereoscopic display and so forth; it seems to have been designed with gaming primarily in mind but they claim it can serve other purposes also.