With the Oculus-ready version of the UDK, you'll be able to start building incredible VR experiences with the Unreal Engine toolset the moment you receive your Rift developmentkit(or even right now, if you're so inclined).
Lumus was showing off two different types of wearable displays, the developmentkit -- or DK-32 shown above -- and the PD-18-4 a monocular version using the same technology.