There is one detail people usually overlook, and it's that the cameras will not be positioned where the eyes should be (too far away from the neck center). I wonder if this could cause motion sickness, it wouldn't surprise me considering it would be like using VR with a wrong neck model.
Im not sure if this would be similiar to this but have you seen Jerri Ellsworths CastAr Augmented Reality glasses? Look up either Technical Illusions or just Jeri Ellsworth CastAr.
It would be cool if there was a HD screen to work with it. While having an external view would be nice with a camera, I feel like you could do most of the same stuff without the camera and just model all the images in virtual space. There isn't really any interaction between him and the real world. He is mostly just manipulating virtual objects that just happen to be free floating holograms in real space. The same 'holograms' could be modeled in VR without the need for overlaying it on whatever room you happen to be in. It reminds me a bit of what Elon Musk is doing with the 3D cad and the Rift.
Well it does look neat, but what about plain and simple usability? Imagine having shitloads of HUD layers on top of one another, it's a mess, not an interface.