[Philip Lelyveld comment: this is a lengthy story mentioning recent activities by key players in VR hardware, software, and storytelling.]
"VR - it feels like it is 1993 again - it is like ILM has just done Jurassic Park and the whole world is ready for a new way of seeing things, and I think VR and interactivity is bringing that new way to story tellers and everyone is again trying to work out the new problems and seeing what can be done," EPIC Games CTO and former ILM VFX supervisor Kim Libreri told fxguide.
See the full article here: http://www.fxguide.com/featured/state-of-vr/