Here's my review.
Sickness: I felt a little uneasy playing Vivecraft with WASD+mouselook, but it wasn't too bad and the feeling went away quickly. In retrospect, it's not a big shock that I wouldn't suffer much from simulation sickness; I've spent a lot of time and money self-experimenting with stereoscopic displays and it has probably destroyed my brain. My wife, on the other hand, almost threw up. What's strange is that she felt fine in Google Earth, which has similar perspectives and camera motions under a different context (spinning a human-scale 3D globe, versus walking through an environment). That suggests simulation sickness, a physiological response, may be partly based upon a conscious contextual component. It's... interesting? Philosophically challenging, maybe?
Goodness:
Head and controller tracking is 100% spot-on.
The motion controls are actually good, I mean like - what everybody imagined the Wii was going to be like before it came out, that kind of good. Honestly it's the best part.
The controllers have great industrial design and build quality. The headset is okay, but I'm a little less sure about it.
Badness:
Installation is annoying.
The base stations are a bit janky. They're roughly softball-sized, vibrating plastic cubes. They have a motor that's always on and there doesn't seem to be any way to turn them off. They have a 7-segment diagnostic display, which is mounted on the back circuit board, but you read through the front of the unit, while it's running, by staring through the infrared laser array, which is... um... well, a somewhat strange engineering choice. Also, they look ridiculous.
All of the AC adapters are super long and narrow, with the prongs sideways. This **** might have been nice 10 years ago, when people were still making power strips wrong, but in 2017 it is super obnoxious. I have a power strip that has the two base stations plugged into it, and there isn't room on it for anything else.
The display is hot garbage. Yes, I know they're state-of-the-art ultra high density OLED space alien displays, but it just isn't good enough. You can count subpixels on the Vive. I'm told it's not as bad on the Rift, but it's still bad enough. HMDs at this resolution are almost useless. Quadruple it, and then developers can start discussing VR seriously. Quadruple it again and normal consumers might adopt it.
Vive developers are putting way too much emphasis on room scale VR. It's a huge mistake; room scale consumer VR is not going to stick. One problem is that you need a huge, vacant room you can dedicate to VR, which is beyond extravagant. The bigger problem is that people actually want to sit down when they play video games, and no amount of novelty is going to keep them standing up for long. This isn't a hardware issue - Vive supports sit/stand mode just fine. It's a developer problem. They need to learn that they can't throw **** directly behind players. It gets old fast, especially when you're wearing a Vive 1.0 and have more cables coming out of the back of your head than a cyborg with brain cancer.
The controller layout could be better. There are two face buttons: an "in-game menu" button toward the top of the controller, and a "system menu" button toward the middle. These buttons should be reversed. The controller's also begging for something like a POV hat, which you'd be wrong if you said it wouldn't be useful.