Dammit, I'm torn, cause eveytime I get hyped and hear that the screen door effect is nil and the resolution per eye makes for a completely immersive experience (on the vive) I later hear that playing a game in these devices is like "watching a YouTube video at 480p" which sounds atrocious. Is this going to be the case where I am blown away initially just because it's VR, and then come two months down the road I'm like "it's a nice proof of concept, but I'd rather play these games on a badass monitor instead"? Just wish I had access to a demo unit...
The youtube part is definitely nonsense, because there's no compression going on. It's really hard to ball park what effective resolution you're seeing in the sweet spot though, to be honest. I know on Gear VR Carmack said any video above 720p was a waste, but the resolution you perceive when looking into a virtual world, espescially when you have motion tracking is a little bit higher than the raw pixel count might make you think.
Your head is always wobbling a little bit and so what you see is going to shift even as you're staying as still as you can. This is almost like doing multi frame sampling with temporal aliasing, because that diagonal line with jaggies on it, isn't static and locked in place... or you're seeing different pixels of the high resolution texture than you were a split second ago.
A better way to judge, imho, is in how far you can see in the virtual world before things become a mess of pixels. That was the main thing I perceived switching from DK1 to DK2 to Gear VR. The furthest thing away from me that I could still see clearly got further back, from the other side of the room, to two or so rooms away.
You're going to notice the lower resolution much more in something like a racing game where you're looking a ways down the track than you will in a game where everything you interact with is never further away than a couple of steps (like in Job Simulator say). Virtual objects within a certain distance feel tangible and solid, beyond that distance it becomes much more obvious that they're a mess of relatively large pixels.