Binaural recordings can be the closest thing to virtual reality that the state of the art allows. The concept is not new though; binaural actually predates stereo records by several years with binaural recordings on tape available in the early to mid 1950s.
I have made very realistic binaural recordings by placing one of the DIY mic capsules I've mentioned on this forum in each of my ears (carefully, of course), recording, then playing back over headphones. Since the outer ear structure exactly matches mine (because it IS mine), the illusion is pretty close to being perfect, and better than a generic dummy head form can manage because the dummy head's ears do not match anybody in particular.
More than a decade ago, I wished that some record company would release albums recorded in binaural, since ear buds are so popular. It could be done with multiple dummy heads, one on each instrument, then mixed conventionally over headphones. The result would probably be awesome.