I'm currently in the process of building a virtual reality pinball setup to be used with my Oculus Rift. I tried out Pinball FX2 a couple weeks ago in the Rift and have been extremely impressed. Full size virtual pinball cabinets have always felt off to me to the point that I don't think they are worth it. However, I'm sold on VR pinball. Its immersive, very high quality (will only get better) and all in 3D video as well as sound.
Pinball Arcade is still coming to the Oculus Rift according to Farsight, for now Pinball FX2 is the only official VR pinball game released but damn its good.
The cost of the entire setup including my PC which is on the higher end side is probably around $2500.
I'll post some info and pics on the VR cabinet controller I'm making once its done. The cabinet for mine was built by someone local who builds professional looking pinball and arcade cabinets, its exactly made to the specs of the first 10 inches or so of a real pinball cabinet.
For now heres an example of what someone else did. I plan to use mine as a VR Mame controller as well.