The only real question is how long it's going to take before it's fully integrated into our daily lives, there is absolutely no doubt this will happen (unless we somehow go backwards technologically, due to world war or some other unforeseen event).
It may not happen for another 10-15 years, but it WILL happen.
The term "virtual reality" is actually selling the technology short. Virtual reality does not merely replicate reality, it allows you to defy the laws of physics and expand into new dimensions and "realities". Replicating "reality" is only a small part of what it's capable of.