I think the system mentioned by jc4p is similarly elegant but for different reasons. Based on a skim through the article he posted I'd say the Lighthouse system is likely cheaper, and can more easily track multiple (infinite really since the tracking is done on the object rather than using the base station) objects, but won't have the same sort of range as MTS. Both are loads better than using cameras IMO.
Not to be purposefully pedantic, so please excuse me, but aren't the small "dimples" on the Vive hardware technically very simple, low-res infrared cameras that are designed to pick up the Lighthouse lasers?
Position is determined by watching the timing very closely of when each sensor detects the IR sweep, and then doing the math given those timings and the known orientation of the sensors relative to each other.
By some definitions (including his) McCauley is a co-founder of Oculus due to his contributions and status as one of the earliest hires, though as far as Oculus itself is concerned, the company represents Palmer Luckey as the one and only “Founder” (with a capital F). As a seasoned design engineer who played an instrumental role in the creation of the Guitar Hero peripherals, McCauley brought hardware design experience to the young company, which was about to embark on designing, manufacturing, and delivering thousands of Rift DK1 headsets to eager backers of the crowdfunding campaign.
Kind of funny how kingmaking works, eh?
I agree with your comments on the Oculus platform. It's sad to see them building higher and higher walls for their garden.