My Vive showed up today. Gave me fits getting it set up on my secondary machine. Long story short, just because the valve test says your system cuts it...don't get TOO close to that line. I was on a 3.6 ghz AMD chip, it does NOT do the job. Switched to my main rig, which has my other 970 (I killed my SLI for the second machine). The only difference is a newer mobo and a 4ghz i7. Butter smooth.
VR eats a LOT of CPU time. Be prepared.
Also, The Lab is currently the best thing to show your friends on it so far. It's graphically MILES above everything else, and looks utterly convincing in some areas. And it's free!
I only have a 2.2m X 2.7m area to play in, and the Chaperone pops up a LOT. It's unfortunate, and I wish there was a way to lower the distance it reacts at. Yes, it's somewhat low-Rez, but nowhere near as bad as I assumed it was going to be. Peripheral vision is unfortunately blurry, but you get used to looking straight ahead.
All in all, I'm thrilled with it, aside from not running right on my intended rig for it.