This would likely conflict with cl_first_person_uses_world_model 0/1, which is a console command to be used for full-body awareness when playing with Oculus Rift.

Meaning that you likely couldn't feasably play with this item whilst using the Oculus because you would actually SEE the hologram hud in front of you and it would most certainly get in the way. Cool concept, but probably doesn't really flow with certain existing aspects of the game. If Jukebox would be willing to test the command to see if this item gets in the way that would be appreciated. (You don't necessarily need Oculus to use the command)