The Playstation VR is Sony's answer to VR gaming. It will work with the PlayStation 4 and the stronger Neo console and will include first party support for games from Sony studios.
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Pro Natural controller interaction
Project Morpheus is designed to be used with PlayStation Move controllers. Move controllers are motion-sensing, thus it represents hand movements in-game more naturally. This allows for more immersive interactions with the virtual world.
Pro Light face contact allows for comfortable play sessions
The design of the device allows for most of the pressure when wearing to be placed on the top of the head meaning there is little contact and pressure on ones face. This helps to keep it comfortable to wear for extended periods.
Pro Can be used relatively comfortably with glasses
There is enough room in the device to afford the wearer room to wear glasses while the device is on. This way those that do not use contacts are still able to use the device.
Pro Headset will not steam up with prolonged use
There is ventilation built into the unit so that when the user gets sweaty, the device will not fog up on the inside. This also is good for the electronics in the device such as the screens, as moisture in them may cause them to break or malfunction.
Con PlayStation 4 only
So far the only platform confirmed for the headset is PS4. There has been no information if the device will be backwards compatible once the PS4 life cycle is done or if it has the potential to work on PC.
Con Resolution limits immersive experience
Due to the screen being so close to your face, the 1080p display is not enough for creating a clear picture. The pixelation is enough to remind you that you've got screens strapped to your face.