This is a kickstarter project.  That means its not available to the general consumer market yet, but if you are not afraid of a little DYI, its a pretty good deal with pretty good specs.  I used the VFX1 back in the day when I was building VR worlds using VRML and the Quake 1 engine.  Ahh good times.  However, there has yet to be another HMD out there that has great specs that is even close to affordable.  So someone decided to build one, and instead of trying to raise VC money, like many other very cool nitch products, they hit kickstarter.

Check out the Vid towards the bottom.  They spend too much time talking about how cool it is, but still worth watching.  Also, watch the names and faces all familiar to us in the gaming world saying they are behind it!

You can get in at $300.

Pledge $300 or more

EARLY RIFT DEVELOPER KIT + DOOM 3 BFG: Try the Rift for yourself now! You’ll receive a developer kit, perfect for the established or indie game developer interested in working with the Rift immediately. This also includes a copy of Doom 3 BFG and full access to our Developer Center for our SDK, docs, samples, and engine integrations! (Please add $30 for international shipping)

Est. Delivery: Dec 2012

Here is more from the site.

Even though the consumer version of the Rift is still a ways down the road, the early developer kit’s hardware design is cutting edge, with technical specifications above and beyond other consumer headset available today.

Technical specs of the Dev Kit (subject to change)
Head tracking: 6 degrees of freedom (DOF) ultra low latency
Field of view: 110 degrees diagonal / 90 degrees horizontal
Resolution: 1280×800 (640×800 per eye)
Inputs: DVI/HDMI and USB
Platforms: PC and mobile
Weight: ~0.22 kilograms

And we’re confident we can make the consumer version even more impressive, all without increasing price or sacrificing an ounce of quality.

The SDK makes integration easy.

We’re already hard at work on a robust Oculus SDK that developers can use to integrate the Rift with their new and existing games. Our team has built great SDKs before and we’re excited to do it again.

All of the Rift dev kits include access to the Oculus Developer Center, which provides the SDK, technical support, and serves as a community for Oculus developers.

The SDK will include clean well-documented code, samples, and tutorials to make integration with any 3D game or application as easy as possible. We’re also working on out-of-the-box engine integrations for Unreal Engine and Unity, so that anyone interested in working with the Rift, including indie developers, can get started right away!
http://kck.st/NU6QRn