Once known only by the shadowy title of Project Morpheus, the PlayStation VR headset will be released this October.
What you get: a tethered headset and a lot of cables.
You'll also get the box that translates the signals from the PS4 into something that the headset can display.
To be clear, that price tag is actually just for the headset itself. No cameras or controllers will come with the PSVR, but it does need both of those to work.
OLED screens offering 960x1,080-pixel resolution per eye are jammed in, with head-tracking sensors and a combination of low latency and high refresh rates keeping everything visually sharp.
But it has the distinct advantage of coming with an established brand name and an ecosystem of products to work with.
So while PC gamers are busily rebuilding their systems to provide the grunt that PC VR gaming will need, PlayStation 4 owners are being presenting with what is, essentially, a plug-and-play headset.
That adds some appeal for the PSVR -- even if you will need to buy the PlayStation Eye camera, because seriously, no one actually owns that.
And of course you need the PS4 for the magic to happen. But you knew that already, right?
Sony is leveraging its developer network to ensure that there's a solid launch catalogue of titles.
In fact, there will be 50 games ready for the PSVR at launch.
Unsurprisingly, EA's Star Wars Battlefront game was a big plug for the headset.
In addition to the Move wands, the PSVR will still work with the PS4's standard Dual Shock controller.
Of course, when you're using the Dual Shock, that really makes the PSVR a gaming display, albeit an immersive and fun one. The Move controllers allow for a move intuitive style of hand movements for a real VR experience.
Like all the other VR headsets, a lot of whether it's enjoyable to use or not comes down to the individual.
But our hands on time has proven to be fun, with a lot of cool visual and interactive experiences on offer. Sony's clear commitment to the product should make for a good run of games during its lifespan.