Have you tried VR Smogsy? Admittedly its not for everyone (some people get motion sickness or have trouble with the images) and it'll be a while before we see a full AAAAAAA game but its on its way.
The travel in various games is limited (walk forward and you either hit your window/radiator/wall or fall over face first which is why its teleport style at the moment) but at least when you turn around, its you moving at your own speed. Some great games out there and the immersion is very impressive.