This is a bit of a stretch, considering the power it takes to use one of these guys, but I feel this could use some elaboration.
Let's take one of these Oculus' (Oculi?) and attach it to a Windows Tablet, display the camera's recording on the Oculus's screen with an overlay display. If it were possible to make some mobile supply of power that wasn't gigantic that can power the Oculus and the Tablet, we would have ourselves a HUD that is light enough to take outside in the real world. The possibilities with such a thing are endless!
We can have models render in the real world, much like Augmented Reality (Nintendo 3DS, anyone?) but because the device is mounted to your head, it would be completely immersive! This would be amazing for games, yes, but real world applications would apply, too! Let's hook this up to Google and, with the sensors in the device, we can see information about businesses or buildings that we're looking at, displayed right over our eyes! I would imagine it's possible by taking the position of the Oculus, pair it with the orientation of it in space, and we'll know exactly what a user is looking at via Google Maps data.
I'm just one person, and I'm sure there are many others out there with similar ideas, so let's all come together and imagine and share and see what amazing possibilities there are!