To answer the post title, no they isn't.
That rift one are taking agessssss!!!!
Yes my precioussssssss!
Anything else coming out?
There's talk of a Sony headset, but don't hold your breath.
Looks like that will be the future of gaming hey?
It's another option, good for some things and not so good for other things.
Abrash had an interesting presentation at Steam Dev Days, it's worth watching if you are interested -
http://www.youtube.com/watch?v=G-2dQoeqVVo
Some key take away points:
Need proper head tracking and positioning. The Oculus devkit only tracks the direction you are looking in - not the position of your head in space which means leaning around doesn't work and that's disconcerting. Their Crystal Cove prototype has addressed this a bit by putting LED's on the headset and coupling it with a camera, but it still needs improving. Some folk have used TrackIR in combination with the Rift devkit to approximate this functionality, the Helicopter demo is apparently quite good.
You need at least 1000x1000 pixels per eye - more is better. The devkit uses a 720p screen (I think) - that's definitely not enough, you end up getting around 500px per eye once lens distortion is accounted for. Text is basically unreadable and the magnification means the spaces between pixels and any tiny bits of dust or fluff on the screen itself is HIGHLY visible. The human eye can resolve around 10000px across it's field of view.
Samsung are working on 1440p and 2160p screens for their mobile devices. 1440p would be workable, 2160p would be better - but still not enough. You would need to run a huge amount (4-8 times) Antialiasing on this. Quad SLI / Xfire would struggle at that resolution with the level of detail we expect from a game.
We also need a floor refresh rate of around 90-100 fps with very low latency. If it takes more than 20ms from your head moving for the display to catch up (bearing in mind the latency from the sensors) then you WILL notice it and probably start to feel sick. Crystal Cove uses some trickery with the screen to blank it unless it's the correct frame that matches your head position, apparently that helps a lot. This single reason is one of the reasons why Carmack was such a perfect choice for CTO at Oculus.
There's a whole bunch of R&D to be done around the other senses that needs to happen before VR is workable. Audio is the obvious next step. I also think they need to get some low latency eye tracking incorporated so that the render focus is on what you are looking at, not your peripheral vision.
We need at least 100 degrees in our Field of View, that basically takes certain types of lenses - the Rift is closest to this, but I think they are at the limits of how far you can go whilst making the lenses something that you can fit in a headset at a reasonable price and weight. It does definitely feel like you have a pair of toilet roll tubes stuck in front of your eyes.
The upshot is:
Oculus devkit is an interesting tech demo
Oculus prototype goes some way to addressing key problems
Oculus consumer model, maybe next year - but you will need a fast rig to drive 2500x1500 ish stereoscopic display at 100fps
My feeling is there will be something usable in 2015 with caveats. If it's good enough, then it will trigger enough investment and there will be a great device in 2019-2020.
