Since i own a VR HMD, each gaming session is something that makes me smile. Even after almost 4 weeks, its always a Wow-moment when i put it on. Especially with Elite.
Be sure to download the SDK from Oculus as well. It will give you the very useful debug tool, which helps you to improve visual quality by increasing the Pixel per Display settings to somewhere between 1.5 and 2.0. It really makes the difference. The default setting of 1.0 is a bit swampy.
Two more things... Get a decent HOTAS for Elite, as it increases the immersion and handling a lot... and get a cup with a straw. Drinking while wearing an HMD is a pain otherwise.