I doubt the 970 and 290 can handle it well. I think focusing on optimizing for old hardware so they can play on all low settings Will do exactly as you said. It will hurt vr.
People act like because the minimum specs say 290/970 that it will be a good experience and that's completely false.
The sets are 800 dollars I mean people with 290s and 970s aren't even that interested in this. It should have started optimizing for maxwell and Fiji, and really focused on Polaris and pascal.
Not try to bump Kepler and Tahiti to the bare minimum. Because a person still holding onto Kepler or Tahiti definitely should not be a focus of a premium product they have no intention of buying.
A 970 or 290 will be just fine for the first few years. People seem to forget that the vast majority of VR titles currently in the pipelines look like this:
Job Simulator:
Lucky's Tale:
Edge of Nowhere:
You will of course also find some games that are a bit closer to what we expect from todays PC games such as Eve Valkyrie, but even this game isn't really that demanding (low-res textures and low poly models), and seeing as it's also coming to the PS4 and PSVR, it should have no problem running on a 970/290:
The only really demanding games are a few tech demos (like Cryteks Climb), and non-VR games that have had VR bolted on (Project: Cars, Elite etc.), but those will be the minority of titles released (although they may very well also be some of the best ones).
More Oculus launch titles
here
I think people are overlooking the fact that these first generation headsets are not particularly high resolution, considering how few pixels you will be looking at in any given moment.
I've heard that a good comparison for kind of detail to expect in a VR game is to watch non-vr footage of that game on youtube at 480p.
You can add all the fancy tech you want but much of it will be a waste until the screens improve.
The screens are actually decently high resolution (2160x1200), plus the rendering buffer is even bigger (by a factor of 1.4), so the actual resolution is 3024x1680. This is then reduced a bit thanks to intelligent cropping (by using a stencil mesh), but even so the performance will probably be roughly comparable to what you have with a 1600P screen.