Got to try PS VR for the first time last night, and came away very impressed. I expected significantly more screendoor effect, and more motion-lag. I looked good and felt very fluid. This was on a base PS4.
I tried the shark cage demo, London Heist, a breakout-like tennis game, Luge, and a Star Wars Battlefront X-Wing demo. The coolest moments were picking and playing around with items in London Heist, and flying close to a giant Star Destroyer.
My only previous experience with VR was a clunky setup on a gamescon a few years ago, I think that might have been an early Oculus Rift. VR has come a long way in those few years, I can't imagine what it will be like 20 years from now.