Congrats, VR is absolutely awesome for sim racing, a match made in heaven. By far the biggest enhancement since driving games were invented. The sense of presence, of being IN the car, ON the track, AT the race venue is unparalleled. Proper binocular stereoscopic vision adds a sense of scale and 3D awareness that takes immersion off the scale and makes judging braking points, nailing apexes etc so much easier. The sense of speed is incredible too.
However, some people need to ease into it. Take it slowly at first. You might get motion sickness (like sea sickness) because of the disconnect between what your eyes are telling you and what your vestibular system in your inner ear is processing. Just like getting your 'sea legs' on a boat, this can take time to get used to. If you start to feel nauseous in any way, STOP IMMEDIATELY. It's not something you can power through, and motion sickness is horrible and can last for a day. Go and do something else for a while and come back to it later. Build your tolerance up over time.
Start with a slow open-topped car (eg the standard Miata) on a flat, straight track or large skidpan. Drive slowly at first, make gentle turns, brake slowly. Reversing in particular can feel VERY weird (still does for me, slightly). Build up to complex tracks and fast cars slowly unless you're one of those lucky people who can dive into VR immediately with no ill effects. I wasn't too bad, it didn't take me long at all. If you suffer from motion sickness in cars, boats or planes then it might take you longer.
Stick with it though, it's incredible.
Be prepared for the drop in resolution (especially if coming from a 4k display) as this can be jarring at first, but is soon forgotten as all the other benefits that VR brings compared to 2D displays become apparent.
Don't forget to activate 3D mirrors either, they're awesome..! Oh, and have the driver visible so you can see his hands on the wheel too, and adjust seating position so it feels like you are inside your avatar.
Looking forward to your impressions. You'll likely never want to go back to 2D again afterwards - it feels so gamey and detached by comparison.
Edit: re the nausea comments, have ginger ale and/or root ginger sweets to hand when first trying it - these can help a lot.
Edit 2: be happy using VR for driving before moving to flight sims, as the nausea effects are multiplied in flight. VR driving took me no time at all to get used to and I could quickly race all day in VR with no ill effects, but I then tried a free Bladerunner-type space craft sim and almost barfed straight away.
Try the static VR demos first, the ones that come free with Oculus Home. Ease into it.
