What Chaz said

, plus some more... good choice of HMD.
Get through all the setup first, especially the IPD adjustment - its a setting that gives you a green + to look at and get clear by using the slider on the bottom of the Rift. Be sure to get it spot on, and remember the number if you give it to others to use and they muck with it
Chaz is right, don't rush it. VR is a lot of fun to begin with, even before you start ED. Stop when you get tired, headache, sore eyes (and I'm not kidding, remember to fricking blink, ok?)
When you're ready to try ED - under the Oculus Home settings/options, check the setting for "Allow External Content" to On - then you can use the ED launcher to run ED normally. It'll start in 2D, until you set the display to HMD. Restart, and the Rift Oculus Home software should start, along with ED in a small monitor window. This is intended. Leave Oculus Home running; I just set it to my library and minimise it.
Be aware the resolution in the Rift is nowhere near as fine as your monitors. Its pixelly, and aliases badly... its 1st-generation hardware. There are god rays, and you'll see the screen-door effect. Ignore them and your head will tune it all out if you're concentrating on the VR 'content', not the Rift's 'delivery'. (Nobody cares what the pizza box looks like, its the pizza that counts!)
You don't need to mess with reprojection (called Asynchronous Time Warp on the Rift). Its on by default.
With a 1080, you can run reasonably high detail settings. In space you should see smooth 90fps, with minimal judder. In stations you see 45-60fps but ATW will fill in the rest, and you probably won't notice any difference from true 90fps (that's the idea).
ED can be fairly hard on the senses - even if you don't get motion sick in real life, be prepared for some nausea if you jump in the SRV and start barrelling across the landscape! Real-life motion sickness and VR-induced sickness are not the same animal. Be wary - the SRV is possibly the worst case scenario. Driving in the SRV can muck you up after a few seconds, or if you're like me, be fine for hours at speed flying off mountains. Fighters are pretty quick too!
The SRV cockpit, wow. Wheel arms so close you could almost reach out and touch them... they're awesome. Seen it in 2D, boring, right? Nu-uh. VR gives you a whole new way of looking at things.
And that's all before you actually move the thing.
You'll spend quite a lot of time just looking around!
Feel free to move about a bit in your chair - it helps to get a feel for the cockpits/bridges.
Welcome to VR, Commander.