"Virtual Reality is the next innovation from PlayStation that may very well shape the future of games," Shuhei Yoshida confirmed at a GDC panel.
The current dev kit features a 1080p display with 90+ degree field of view. However, this is a prototype and isn't necessarily indicative of a final retail product. The VR headset can be used alongside PlayStation Move. Tracking of both the headset and controller are handled by the PlayStation Camera. The headset also promises "true spatial sound, synthesized by simulating the human ear."