Just did a first lap around the Nordschleife in a Radical, and thought I'd share my experience here:
Wearing Comfort:
The headset is quite comfortable to wear, slightly better than the original PSVR. Lighter than I expected it to be. Still, it's quite tight around your head, so it will never be 100% comfortable. No issues with light coming into the headset. Lenses did not fog up, which was a major issue on the original PSVR for me.
Comfort (nausea etc):
It has been a while since I played anything in VR (over a year), and usually after a long time without, I am quite sensitive to feeling very uncomfortable for the first few hours. Here however, it was not too bad. I developed a very mild headache, but that faded quite quickly. After my session I feel slightly uncomfortable, but nothing too serious. Feels like this will disappear completely once I get used to playing in VR again.
(To be fair, I was already not feeling the greatest this morning, so it might even just be that)
Image quality (headset):
The resolution of the headset is great. The HDR is bright and delivers great contrast. The lenses are not that good though. The edges of the screen get a bit blurry, and I see quite a bit of chromatic abberation. Better than most other headsets I've tried, but still room to grow there.
Field of view is great though. The edges of your vision are still visible, but it feels similar to wearing a helmet. Compared to PSVR1, a major improvement, even if it is only a few degrees.
Tracking seems pretty accurate, no issues so far.
Image quality (GT7):
The good:
GT7 always looked good, and it still looks good in VR. Looking around the car everything is very detailed. The track details look great (at least close to the road). The effects of foveated rendering are invisible to me, everything looks like it is at full resolution. You can see your avatars body move with you if you move your head. If there are shiny surfaces in your car, you can even see the reflection of your helmet move!
The bad:
Shadow quality is not great. You can see the detailed shadows pop in just meters ahead of the car, and it's quite obvious. Trackside details further from the track (at least on the Nurburgring) are visibly low quality. Not something I'd pay a lot of attention to, but there are some places where it is hard to miss.
Mirrors don't change their view if you move your head.
General points (GT7):
Locking the view to horizon is forced on, it would be better as a toggle so that it can be turned off.
It would be nice if there was a way to move your seating position in the car (other than resetting the tracking while bending in a weird way, and hoping you hit that sweet spot) as my head was nearly in the steering wheel in the Radical.
Replays default to 2D (there is a VR replay option afterwards though). VR replays stick you on a fixed position for too long, and only switch to the next position long after your car has passed.
More 3D in the menus would be nice, as they are now all 2D.
Overall:
Pretty great experience, but a few small points in the game where improvements can still be made. Headset itself is good and high quality, but not perfect.
Edit: Small note, I did not get to play with a wheel, only with a Dualsense for now (as I'm currently sitting at home with a broken ankle 😅). Playing with a wheel should still increase the immersion quite a bit