There's a new video on the Sony PlayStation YouTube channel showing off the various features of the PlayStation VR headset.
The features in question are:
5.7" organic light-emitting diode (OLED) display, 1920xRGBx1080 resolution, 120Hz refresh rate, low latency of under 18ms, approximately 100 degree field of view, accelerometer & gyroscope, nine LEDs for positional tracking, 3D audio with stereo mini jack and mic input, and HDMI & USB interface.
PlayStation VR, formerly known as Project Morpheus, launches during the first half of 2016. Sony has not yet announced a price for the headset but PlayStation CEO Andrew House said back in September that it would cost the same as a new console. The PS4 currently retails for $350, we will of course report PlayStation VR's price when it is announced.