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Our HiBall Tracking System generates over 2000 head-pose estimates per second with less than one millisecond of latency, and less than 0.5 millimeters and 0.02 degrees of position and orientation noise, everywhere in a 4.5 by 8.5 meter room. The system is remarkably responsive and robust, enabling VR applications and experiments that previously would have been difficult or even impossible.
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Welch et al. (1999) studied this question.