Kantor: I don't think I can speak for other developers, as there are tons of completely valid approaches that different niches of players will enjoy more than others. But for me, both as a creator and a player, I am more interested in exploratory VR games that you can take at your own pace. There are all kinds of neat mechanics that can be derived from the head tracking built into the Rift, but what fundamentally excites me about VR is the opportunity to physically inhabit an otherwise inaccessible space.
Yang: Photorealism is pretty boring, and VR doesn't change that.
Korsgaard: Immersion doesn't have to be the goal! It is not even the most interesting part about VR. Lots of people see VR as an interface that finally let the players completely be immersed in the game, and blindly use that as the only goal for their development. I think that is a false promise; there are still lots of artificial layers between the player and the system -- they sit on a chair, they hold a controller in their hand, they get sick, they are scared of being blinded from the real world. Accept those premises of the technology, actually embrace those premises.
McNeill: A lot of the established conventions of modern games just don't fit in VR. Be warned. There's no screen corner where you can put your UI. Traditional camera controls feel uncomfortable. There's no way to ensure that the player is looking at your cutscene. Oculus has made it very easy to plug a Rift camera into your game, but that can be a curse in disguise; it's not truly as easy as it looks!
Gunnarsson: Pay attention to the scale of objects in your 3d world. You have been trained to perceive scale based on a number of things, including stereoscopic view, comparison with other objects of known sizes, parallax movement (needs positional tracking) and more. If you get the scale wrong you can feel like a dwarf or a giant, which in most cases is not the effect you are going after.
CCP's EVE: Valkyrie