From the presentation (see: http://live.theverge.com/live-sony-playstation-future-of-inn... ) it looks like 1) they've been working seriously on this for over 3 years and 2) they have taken the ideas of immersion/presence to heart and are focused on VR as a medium, not as a gimmick.
Personally, I think it'll be good for Oculus and VR in general to have a strong competitor w/ Sony. If it weren't PS4 only, I'd seriously consider grabbing one. Of course, we'll have to see what Oculus has up their sleeves w/ DK2 tomorrow...
For comparison, the HMZs OP references are a HFOV of about 45°.
In any case, the field of view on that hardware is generally lens limited and the lenses are round, so the monocular field of view for most users is circular. The diagonal field of view is then equal to the vertical and horizontal field of view.
The diagonal is a bigger FOV than the horizontal FOV simply for that reason.
Most people can't see the edges of the screen when looking directly at them in the rift (but they can when looking indirectly, it is something to do with the eyeball moving around leaving the sweet spot).
Also is there technical documentation on the prewarp shader and pixel density/perceived resolution? I'm interested particularly in text rendering, so really looking forward to the low persistence displays!
There are technical details on distortion correction in the SDK guide: http://static.oculusvr.com/sdk-downloads/documents/Oculus_SD...
Much of this is in flux as we improve on both the methods and the specific implementations, but the guides will be updated as we get there.