That vid was amazing, and that would be awesome if that was reality. I'm pretty excited to see what nintendo is coming up with, I hope it is something like this, because honestly, the xbox 360 isn't that impressive, it's more or less just a beefed up version of the original, and the first screen shots aren't that great (although seeing the unreal 3 engine in motion is really fantastic).
Nintendo could really do something different like this and score big.
Also, what they showed in the video would be a parents dream, if the person using it actually had to walk around and stuff to move, the gamer would be getting some mild exercise. Awesome.
As far as it being like virtual boy, it's nothing like it, apart from the headset. It obviously wouldn't be the shitty vector graphics and from the concept in this amazing fake vid it showed that the brain would broadcast to t.v as well. Also, it wouldnt be a set it on the table style glasses, you'd actually wear it and have 5.1 in the headphones, which would kick ass (then every player could hear independent sound). Virtualboy sucked cause only one person could see it, plus the red and black...just blah. I only played one of these in a demo set up in some store, and thought it was the dumbest thing even then. N64 blew me away though, the very first Mario 64 commercial....god, nothing tops that haha.
I wonder how 4 player would work with this, wireless headsets and people running into each other in the living room HAHA.
This concludes my small rant.