So Oculus has set forth a nice bounty for developers to kill each other over. Also the consumer version and some interesting touch motion controls that would be fun to play with, but mainly the 10 million dollars for indie devs to develop for the Rift.
Of course, I’m of the same opinion as LRR in this case.
However, if I were going to chase the dream with my limited art capabilities, I’d try for a niche game based around you being blind/using echolocation. Can basically skip texturing and lighting a scene and instead just worry about the actual shader effect to get the echolocation to look cool while maintaining the helplessness of not being able to see. Probably a horror/stealth gameplay where running lets you see real good because of you tromping all over the place, but also draws everything towards you. And maybe a mechanic where heavy breathing from running gives you echo pings, so the calmer you are the safer you are, but the less you see. Done right, I think it’s a winner.