How Far-Fetched Is Total Matrix Virtual Reality?

With today's technology we can get a pretty decent virtual reality experience. How far away are we from making believable alternate realities that could have a person fooled?

We can emulate walking, with a treadmill like Virtuix Omni. We can get a pretty realistic visual experience of a computer world, with a device like Oculus Rift. 
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It's fun to imagine getting all these gadgets. It will get a bit expensive, though, to interact in these 3D worlds in so many ways.

And it can get a bit clunky as well.

But I'm excited about the future of these technological augmentations.

Gadgets that read your brain? 

Sounds scary but still pretty awesome. ¯\_(ツ)_/¯
You learn to control the device interface with your thoughts, or in other words the device learns the language of your brain. Once mastered you can control your gadgets with your thoughts.

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I already want to try this device to move a video game character around.
With some virtual reality glasses on, that would be a truly immerse experience.

Still, what is missing is, the other way around: sending signals back into the brain, basically - to get a real "feel" for being in the game world. I don't think we're too far from that either. For one, we are exploring how to induce lucid dreaming. I find that very interesting - In lucid dreams you create virtual realities, basically.
With the help of these technologies we could make dream creations more permanent.

Your dreams in the cloud?
Maybe some day people can visit your dream creations with neural technology.

Google Deep Dream - Gargoyles of Notre-Dame

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