Sounds absolutely awesome, however even the most uptodate PC today might get a challenge running the game on ultra high(especially with all the graphics mods and improvements to come), when rendering it "twice", and is really the details and resolution as great on those small tiny screens? How can they be?
I'm also afraid of that thing giving me brain cancer or rot my eyes out, ha ha, but it does sound incredible. I might get it.
Due to the relatively low resolution of 1280*720 it runs absolutley smooth on ultra for me (all at the highest, except cpu power drawing shadows "only" on high; I have even via .ini self shadowed trees on, shadows on landscape and 4times Transparency Supersampling on driver level). Always smooth - like never below 30 frames in Riverwood and never below 25 in White Run, most of the time 45+ FPS. Rig is quite good indeed, but not over the top either: single GTX 580, Intel Core I-7 @3,5 GHz, 6 GB Ram, Win Vista64).
It really looks much more detailed than you would expect with res 1280*720. Still you notice that it's not HD, but the power freed by lower resolution can be well spent in high AA (8times right now combined with supersampling AA for transparency), high AF (16times right now) and all other settings to the limit. The combined image is gorgeous - and super fluid.
The weight on the head and the intensity of the scene can get strenous indeed - but brain cancer

? Oh well, only the good die young - god forbid I end up as an ugly, 90 year old dark elf, hehe.