Wow, just wow. The screen is crisp and clear. I've read about people having 'lag' with the controllers, but I haven't seen that with my set up so far. Like most VR headsets, it's front heavy, but this isn't as heavy as others I have tried.
My only complaint about it, is how abrasive the face pad feels very rough, like sand paper, after a while, and the light leak coming up from the sides of your nose. Luckily, there is a silicone cover you can purchase that fixes both these issues. But for the price, Oculus should have including such an item. Hence the 4 star rating.
I've been using it to watch 3D movies, and I have thoroughly enjoyed the experience. I do suggest using either earbuds or a set of head phones to get the fully immersive feeling. VR gaming is an outstanding experience. Just map your gaming area, and start it up. No need to be tied to a PC to play, or needing external sensor stands. Battery life is 2 and a bit hours, depending on what you're doing, and it charges up quickly. (Or do what I've been doing, charge it while watching 3D movie collection ;) )