I doubt it would be great, probably just mildly usable:
The aspect ratio of the film must be maintained so it's 960x540 at best.
Fisheye correction causes major radial blur in the corners.
VR optics give high center density and soft corners, you're supposed to move your head, not look at the corners.
At 100 degrees FOV it would make it feel like sitting 15" from an 42" TV. Not really a comfortable viewing.
3D films are mastered based on a normal FOV, and 100 degrees would make a severe cardboard cutout effect, and flatten the 3D perception.