The display is a single 1280x800 panel; each eye only sees a 640x800 image stretched across the huge field of view. The perceived resolution is therefore much lower than even previous generation consumer HMDs. If you are looking for high resolution, this isn't for you. For immersion, the high FOV is much, much more important, though.
Those are the prototype specs, mind.
There was a good point on one of the boards that HD will be hard to achieve on regular hardware just because you'd need to render at a minimum 60fps for each eye, and at 1080p few recent games will render at a smooth 120fps which this implies :) Maybe using 2 graphics cards?
Not exactly high resolution (considering the wide FOV), but not bad either
Seems like an oversight that they've left out the specs
Technical specs of the Dev Kit (subject to change)
Head tracking: 6 degrees of freedom (DOF) ultra low latency
Field of view: 110 degrees diagonal / 90 degrees horizontal
Resolution: 1280x800 (640x800 per eye)
Inputs: DVI/HDMI and USB
Platforms: PC and mobile
Weight: ~0.22 kilograms