Is that pocket computer required? If so, seems strange to access your virtual phone through a phone-sized pocket computer. I can appreciate that virtual screens will eventually be a selling point, but not maintaining the idea of a virtual phone and laptop.
I found this early demo based on the Oculus Rift to be a bit more promising, even though it's currently far, far rougher: http://www.youtube.com/watch?v=Bc_TCLoH2CA