Even today, most of my (C / Bash) programming is done in an 80x24 xterm, although I'll typically have documentation open in another window. However web and GUI app development requires enough room to see the resulting product.
Anyway, I think I've been going for about a month and a half with 80x27 text displays (full screen with tmux). I'm doing web development and my browser is similarly scaled (thank god we're building something with a scalable UI).
I have not missed the screen real estate at all. Of course, I'm old and I used to always work on 80x25, so the extra 2 lines are luxury ;-)
It's generally fine. Every now and then I feel like I want to see the broader context of the code, but it's rare. In general it forces me to write much cleaner, more readable code, and to structure things better so that concerns are truly isolated and I don't need to look at a lot of code to see how things work. Overall I think it's a positive experience.
My guess would be Commodore 64 with an NTSC TV for display. That's pretty close to the text fidelity you can reproduce on a "virtual monitor" in a current-generation VR environment. (I think a lot of people underestimate the amount of resolution lost due to lens correction -- the rendered screen image is heavily distorted to account for the wide-angle lenses.)
Well, I suppose it would be sort of fun to have a virtual C64, as long as the virtual surroundings are well executed: a complete high school kid's bedroom from 1986.