Much refined from the developer kits that have been around for some time now, the newest version just 'goes away,' in so much as a helmet on your head can do that.
There are two OLED screens inside creating the visuals as well as a low-latency tracking system which has been slowly refined over the past few years. Integrated into the headset are a pair of headphones with 360-degree spatialized audio for that all important immersive experience as well as a dial to increase or decrease the distance from your eyes.
It's visually much slimmed down from the clunky looking developer kits and is covered in a cloth finish instead of just cold hard metal or plastic.
And of course, it'll all be available in Q1 2016.