If I am understanding you correctly you are talking about a setup similar to Trespasser (http://m.youtube.com/watch?v=x-3NnhN7Fis) correct? I know from past experience most people that played this at my teen center many years ago didn’t enjoy it much as it was alot more complicated then the current games of it’s time but I always felt that setup had pretty good potential. Even more when in a stereo environment.
At the end of the day though I think it honestly boils down to what type of project you are gunning for. There is more to building an Oculus project then just calling it VR. It has to be an experience, standard 3d gaming immersion or a full blow simulation (Edit: Or a hybrid of the last two). Experiences fit your first two visual examples quite well. 3D immersion will probably be played on a game pad similar to what you currently see implemented by default in U4.
The simulations on the other hand are a completely different story. You need independent arm tracking with something like the Razer Hydra / Sixsense / wiimote. Player movement from some sort of leg based controller (there’s a few in development) but worse case scenero the game pads themselves or a dance dance revolution pad with player movement tailored to it. Heavy dynamic audio bass, not that headphone nonsense and possibly a dynamic fan for airflow. That would cover sound, sight and to some degree touch. Smell and taste are extremely important but those are things we should probably tackle significantly down the road.