Big thanks to Suvi for helping me with getting the Rotation from the rift applied correctly (a thread and and to Marbas for the distortion code (another thread .. sorry for the heavily modified code, but I just convert *everything* to my preferred coding-style). The demo uses assets from the original Irrlicht distribution.
The movement in the demo is controlled with WASD, and you can rotate the camera using the mouse. Movement is always done in the direction you are looking.

You can download the demo from my homepage