The problem with VR is twofold:
1) The cost of the hardware required to run it is still pretty steep. This is something you really can't just skimp on if you want decent frame rates. Expect to build a system worthy of the " gaming rig " title if you want a decent experience.
2) Due to the first problem, there aren't as many folks buying VR titles. As a result, the developers are hesitant to pour money and resources into the creation of the titles as they will have a difficult time recouping the costs. This really becomes a problem with multiplayer titles as you will quickly note the lack of players to compete against.
I own an HTC Vive unit paired with a higher end gaming rig and while it does the job as advertised, it isn't without some minor issues.
Resolution is one of them and is the first thing you'll notice if you're used to looking at the ultra-crisp flat panel displays we're used to. You will get used to it, but it is an issue. The GPU hardware just isn't there to drive dual 4k displays at 90 frames per second. It'll get there, but we're not there yet.
The unit isn't glasses friendly. You can wear them, but they need to be a narrow frame to fit within the headset. I have a specific pair I wear when using the unit.
The unit can be a bit heavy for some folks and uncomfortable after a time. Those who are prone to motion sickness had best leave this tech alone. The wiring tends to get in the way and I find myself unwrapping from the wiring from time to time.
You need a wide open space to play in. I can't tell you how many times I've whacked the door, ceiling fan or other items in my play room flailing about in VR space. It does an OUTSTANDING job of making you forget you're actually standing in a small room but you'll remind yourself in a hurry when you whack the wall. ( Keeping the boundary warnings on does help )
Overall though, the VR play experience just puts everything else to shame. To the point where I'm looking forward to good VR titles far more than I am a non-VR game. I think the best path going forward for developers would be to develop for both platforms allowing the use of VR hardware if available. The typical first person perspective titles would be great candidates for this. Eg: Skyrim, Fallout4, any of the First Person Shooters out there, etc.
Some of the titles I particularly enjoy:
QuiVR ( pre-release, dedicated developer patches / updates nearly daily. Outstanding title. )
Eagle Flight ( UBISoft's foray into VR. I have more hours played in this than any other title and what I bought the Vive for. Unique flying sim )
Space Pirate Trainer
Serious Sam VR ( still in development )
TheBlu ( good for demo use for your family / friends. Lots of " Oh Wow " moments, no motion sickness )