As I've gotten older I don't tolerate contacts as well so most of my usage (dev unit v2 in my case) has been with glasses. My prescription is fairly strong so I already get a bit of distortion in peripheral vision. It's something I tune out in reality but in VR, it took a few minutes of getting used to. It wasn't bad but it's a lot like when you first put on a headset and you sort of learn to gaze straight ahead rather than looking at stuff at the edges of your vision while still looking forward.
I'm curious, can you use Oculus Rift without glasses? I tried google cardboard without glasses, and can see clearly even though I'm near-sighted, because the image is only inches from my eyes.
It's designed to accommodate glasses, and there are also 3rd parties developing custom lens inserts to match your prescription.
You can wear glasses but it will reduce your field of view.
As in real life.
Far more pronounced. The FOV reduction doesn't come from the glasses frame so much as it comes from the glasses moving your eyes further away from the headset lenses than they would be without the glasses.