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I'd easily spend 400, maybe even 500 bucks on a VR headset, depending on how good it is. If it supported 4k and 120 fps, I might even stretch as far as 600 bucks.
At 300 bucks with 1920x1080 and 90fps, I wouldn't even think twice about buying it.
I really hope GT7 ends up supporting morpheus. Wouldn't adaptive tesselation also enable the PS4 to smoothly decrease the level of detail of each car? Wouldn't it be possible to let the PS4 do this to whatever degree is necessary to achieve any framerate the developers desire?
It would most likely be 1080P @ 60 fps upscaled to 120. It should be easy enough to do I think...though it would likely have GT6 level graphics. Which would be heaven for me.