this looks like an amazing system that could actually be implemented in the next couple of years.

YouTube - Head Tracking for Desktop VR Displays using the WiiRemote

If the future of videogaming becomes the way you all are describing it, we'll be facing "Ghost in the Shell"-types of questions!!!! That's WAY too much for me!!!

The technology for that is too advanced for this century. To create a game like that or an apparatus that can simulate touch, smell, taste would take thousands maybe millions to create. If a system like that is ever created, how will the person be able to move freely in the game when he is actually in a room in his own house. Also the cost of the game system would be too high for the common person and only those with big enough pocket books will be able to afford it. Yes something like this will change the gaming industry, but it will have more of a negative affect on it than a positive.