I'm sad to say that the Second Life VR experience is very...lacking. I'll give it this: Second Life wasn't made for VR, and the VR setup is a bit of a hack/tweak.
The good news: It's in 3D. It really becomes a worldspace with physiciality. While you start in third person, you can go into mouselook and basically "BE" your avatar. The head camera works really well in third-person and mouselook, and once you zoom out in third person mode, you can have a really good 3D experience in SL. Which, really, is all you'll get.
The bad news: The controls are SUPER arcane. I had to look in multiple webpages on how to get Firestorm VR it up and running and started. There are controls for you Occulus controllers but for the life of me, I couldn't figure out how to work them, and after deleting several pieces of my house, I moved back to keyboard and mouse (good thing I can touch type).
In all, it's less a VR experience and more a 3D experience, and while the 3D is quite nice, it's just Desktop SL in 3D. But it's not TERRIBLE. I'll keep trying it, maybe it'll grow on me.