Of course, iTunes video is still wrapped in DRM, so we'll see if DVD Jon has any tricks left up his sleeve to make it play nice with non-Apple devices, but for a first shot out of the gate it looks like extremely promising -- too bad it's Mac-only for now.
Rather, it's workable, and should you have an Oculus dev kit (they're shipping out right now), it's not terribly hard to make the game play nice with the headset.