Yeah, for sims and what not, VR works pretty well by all accounts. My expectation is that as the technology progresses and becomes more mainstream (which it is already on the cusp of), I would expect to see a VR headset to become the standard for sim gaming.
Also you'd need some kind of tactile feedback so that you feel it when you push on a door...
For other experiences, I agree it is tricky. For the climbing game I tried, I found that my body generated a lot of the "feedback" itself in response to the simulation. So whilst tactile feedback through a controller might enhance the experience, I'm not 100% sure it is essential. Again, though, it will depend on the sort of game you're playing. The brain seems to do a pretty good job of convincing itself.
I've yet to try it, because I like my bowels to be as undisturbed as possible, but, Resident Evil 7 has gotten very positive reviews on its VR experience although that is more a sitting down FPS experience than a full on standing-up RPG type simulation. Whilst I don't doubt developers are going to push in the direction of the latter (something Microsoft's new headset is designed to facilitate), I think there is plenty of fertile ground to be plowed using the model provided by RE 7 and also Alien: Isolation.
I am going to try Alien: Isolation on VR when the opportunity presents itself. I've always wanted to try the gaming experience of shutting myself in a locker and never leaving there again.