It looks very cool, but they definitely moved & rotated slowly in the video. Hopefully they can keep the motion tracking processing latency low enough to not cause nausea.
Actually that's an interesting point - Oculus has shown that you can do tracking and display updates on a traditional display fast enough to appear more or less fixed to the world.
But Magic Leap's display has a physically spinning component. I wonder if you move quickly there is a gyroscopic precesion effect that distorts the display...
The other thing is the demo environment is very dark. All the lamps are dim and angled towards the walls.