What is your concept of "Real 3D"? Holography? Really, I don't know. To my knowledge stereoscopy+motion tracking is as 3D as anything can get.
My experience of stereoscopic 3D, with or without motion tracking, is that it is fundamentally flawed. When we look at something, our vision focuses there. Other things are out of focus.
Developing a stereoscopic image, you've got two options. First, you have what is supposed to be the focus of the image in focus while everything else is out of focus (this is what classic stereoscopic cameras did/do). Second, you can have everything in focus, so the viewer can choose to look at whatever they want (this is easily possible with 3D rendered scenes, a little harder, though not impossible, with photos).
Both of these options are flawed. In the first, you can only really look at the thing that is the focus of the image. In the second, the image ends up taking on more of a flat look because everything is too close to being in focus.
An improvement would be to introduce eye tracking, whic could allow the system to bring whatever your eye is pointed at into focus. While this would be a big step forward, this would still be flawed, though.
Stereoscopic imaging creates the illusion of depth through the triangulation effect that comes from the fact that we have binocular vision. What it still fails to do is adjust focal distances, as the screen is always a set distance in front of you eyes. Short of holography, as you mentioned, there is really only one way to clear this final hurdle. A lensing screen that would actually change the effective focal distance for different parts of the image. With that, eye tracking wouldn't even be needed any more, and all that we would need is good motion tracking (which Occulus seems to have) and we'd be a lot closer to "real" 3D than anything I've seen.
(Please note, I'm not saying that what Occulus has done isn't really cool, or that I would like to play with one if these things for a while. I'm just speaking to the limitations of 3D imagery and VR, at least as far as I understand it, at the present state of technology.)