Looks interesting, but I am doubtful this is going to have the same impact as Oculus's Consumer release. I also don't know how they managed to get 1080p AMOLED, but I do not think they have as much freedom as Oculus has. I am guessing they didn't solve low-persistence, prediction based orientation tracking, or even low latency tracking based on the sickness that engadget commented on. I don't like engadget dismissing the sickness as "it's kinda not their fault," when it clearly is.
I would love to have a wireless setup though, but I will take low-persistence and accurate positional tracking over it for now. Especially when we are talking about comparing computation abilities of PCs to mobile ones.
It does look kinda interesting but without any additional information I'm not holding my breath. Mobile technology is not going to be able to offer the same performance in the near future even with all those new mobile chips that are coming. I think Oculus has the right idea about this. They're looking into it but not with full steam. Maybe in a few years the performance is good enough.