Oculus Rift VR Gaming Headset: Will it change the way video games are played?

Video game companies are showcasing their new toys right now at the Electronic Entertainment Expo (E3) in Los Angeles.
One new product aiming to shake up the industry is the Oculus Rift VR Gaming Headset.
 "The Oculus Rift is a high performance, low-cost virtual reality headset designed for gaming,” said Oculus VR CEO Palmer Luckey. “It makes you feel like you are inside the game. You can think of it as a pair of ski goggles except that instead of seeing the real world through the ski goggles you see the inside of a computer game.”
OC: ...being the same way."
Don’t look for it in a store. Right now the company is mostly targeting game developers.
The CEO says that Oculus has other big hardware projects in the works but he didn't give any hints about what exactly they are working on.