Virtual reality used to be a big thing, until it ran face-first into the wall of poor interface design. Bulky helmets and thick gloves were not the future of computing then, and probably won’t be making a comeback. What might work, though, is a set of screens small enough to fit in a visor, with all the horsepower of a modern monitor. Check out this article about such a virtual reality system using Half-Life 2 for a demo. Ars Technica has the story.
We need to be able to spoof controlled signals directly into the senses. Anything less is just too bulky, too heavy, and not close enough to really be in the game.