Star Citizen with the Rift is laggy, some better if you disable vsync with a config file change. Floor lights further away than 10 feet or so constantly flash/flicker, which is really irritating. I messed around trying to find a setting that would fix it, but failed.
Seeing HUD stuff is kind of cool, but most of it is broken with split cursors in 3D mode, and even if you get the mouse near a hotspot, the hotspots are frustratingly small. Either the laser with the firing range is broken, or the default 316P (I think that's the ship model?) lasers are very random in whether they hit targets. The firing range has no crosshair which also makes it really difficult to aim.
It is a good example of how a 3D holographic interface is very annoying and impractical compared to a simple list of things, or buttons you can press.
If you have to drag things with the mouse, the hotspots should be HUGE, and snaps should be easy. There should also be no need to move your head way to one side just to look at, for example, weapon selection. And because of the horrible resolution, if you try to move further back to get a wider field of view, you will not be able to see anything.
The Oculus latency tester does not seem to work with Star Citizen at all, so I could not measure the actual latency. I did try the latency tester with the virtual cinema demo, and got about 40 ms with vsync on, 9-23 ms with vsync off.
With 4.5 Ghz 3570k and a 2GB GTX 770, I got 60-70 fps with high settings and 1280x800 or 1680x1050. If I recall correctly, high versus very low settings make little difference in the hangar demo, however. The graphics card usage is pretty much always 99% and hot.