Whatever HMD you have this works perfectly… Only problem is, doesn’t look good… Just setup and actually feels wireless already
Wireless is better. That kind of set-up does not work well for room scale use. If you more or less stand in one place give or take a few feet it works OK, but you can still get your arms tangled playing something like Holopoint.
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Considered this in the early Vive days, but is far from perfect. Still got an issue with the cable around your hands/head/neck! 
IMO there is every need for wireless! Just need a good solution where to put the battery when its no pants day! 
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I strapped my battery to the back of the vive headset, relieves the pressure on my cheek bones and nose too. And you definitely still need wireless, the experience is simply much better.
I have a ceiling fan… there is no way I’m putting something like this up…
I live in Texas, a ceiling fan is necessary.
People from other places move here during the winter and take all of the ceiling fans down.
They then start dying because of the heat during the summer.
An air conditioner alone will not suffice in Texas… well… not unless you are willing to pay a lot more money.