Oculus introduced a new prototype at CES, Crystal Cove, which shows the direction they are going for the consumer model. It includes positional tracking, OLED screens, and low persistence to help with motion blur. Hopefully we'll see a consumer version sometime this year (probably Q3).
http://www.wired.com/gadgetlab/2014/01/oculus-rift
http://www.engadget.com/2014/01/09/t...14s-best-of-c/