Microsoft is going the holodeck route with something called HoloLens.
These are holographic glasses and they'll be coming out around the same time as Windows 10. Man, this sure looks awesome and cool and probably also janky and questionably useful! We'll find out first-hand soon though... (We hope)
Hololens is no Oculus. First, it's untethered. Everything is in the headset; that includes a CPU, a GPU, and something Microsoft is calling a Holographic Processor. HPU? Also, this isn't about throwing you into some VR screen-in-front-of-your-face cave. Hololens is about putting virtual things all over your real life, like Google Glass but somehow uglier and bigger but also better better. Exactly the experience we're hoping to see with the mysterious Magic Leap.
As a Windows 10 device, the Hololens should also be able to run any app that a Windows 10 PC or phone will be able to, so long as there's some holomagic UI programmed in. That could help make it easier for cool shit to come to these insane goggles whenever it is that they launch. For now, we're stuck with basic tech demos.