Pretty damn well. At E3, I was fortunate enough to have hands on time with the Oculus Rift and the new controller Oculus is developing, the Oculus Touch.
Below you'll see the demo they were using at E3 to show how accurate the controllers are. You can see the virtual reality on the left side while on the right side, the person in real life. The gestures and movements are about as close to 1:1 as you can get.
It's so accurate that you can even bounce a ping pong ball on a paddle, utilize a virtual slingshot, and light fireworks. As I said in my E3 report, I was blown away by the controller and how much better the consumer version of the Oculus felt and looked.
