SONY PS4 seems to render all, inclusive warp for lense adaption, on the console.
A needed external box will connect between PS4 and headset, and calculates an additional video stream from the warped data for a external TV screen („social screen“)
„… takes one of the stereoscopic views, ‚undistorts‘ the image, zooms into the main area of interest and beams it out via HDMI to your HDTV..“ from http://www.eurogamer.net/articles/digitalfoundry-2014-hands-on-with-project-morpheus
input: HDMI ,USB(3.0?), power
output: HDMI for TV screen „social screen“
but there are 5 plugged in cables… there is an additonal USB Port
WHY DONT DO THIS THE OTHER WAY.
like the already described hypothetic TrinusVR Stream-Converter-VR-Box.
PS4 could render videostream in standard 3D format without warping, send this standard videostream to an external extra box, where a second screen can be added and the data is warped for lenses for headset.