It's rarely a good thing to be ahead of your time, and that applies twofold to technology. Releasing technology before it is capable of providing a solid user experience is counterproductive because it gives the technology a bad name, reducing interest in the required research necessary to provide a solid experience.
In the past, Virtual Reality did not work because the helmets were too heavy, the graphics were too demanding, the screen resolutions and refresh rates were too low, and the motion sensors were too slow. All of these issues combined to create a horrible user experience. But due to many advances made in the past couple of decades, graphics processing is much faster, screen resolutions and refresh rates are much higher, screens weigh much less, motion capture is much faster, and all of these technologies are becoming drastically cheaper. This means that Virtual Reality is quickly approaching a point where it will finally be feasible to provide the proper experience it has always attempted.
With that said, there are still a lot of tasks required to get all of the technologies integrated with each other to provide a smooth user experience, so I don't think that 2014 will be the year of Virtual Reality. But I would be surprised if there wasn't a solid product available by 2016.