There is something very wrong with this setting in combination with SteamVR. I have noticed in the past that text at the bottom of the SteamVR dashboard so as Steam, Revive, Settings etc is a bit blurred when using this setting but didn’t really notice it in games.
Now I am playing Borderlands 2 VR using the Revive fix and when the text is blurred on the dashboard then there are multiple problems in the game such as all windows are much too narrow so the text is very difficult to read as it is crunched up and you only see half of the HUD elements. Also on the main menu screen I see a sort of glare over some elements of the environment like the volcano and if I look with one eye I see a mist over those elements which normally you don’t see.
However if I close SteamVR, maybe reboot the headset and restart SteamVR, if I am very lucky now the text at the bottom of the dashboard is very clear. In this case everything is perfect in Borderlands 2 VR and all the previously mentioned problems are no longer present. Yesterday I played the game for a while with no problems and then exited. I then closed SteamVR and restarted it and lo and behold text in the dashboard was blurred again and the game was broken again.
This also occurs when playing the game without the Revive fix.
So you can see if that setting is working properly or not by looking at the SteamVR dashboard.
[EDIT] The problem seems to be related to the FOV. Small or Normal mostly seem to work correctly including clear letters on the buttons on the SteamVR dashboard but Large rarely works correctly.
@Sweviver please ask Pimax to investigate this and find out what is going on with this setting.