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I develop with the Rift, the VR player controller is level to the ground, but I think real-world ground and the controllers make it a touch hard to actually touch the virtual-floor.  I'll investigate a better solution.

But, you should definitely be able to bend down to unscrew the cover to the basement using the drill and easily grab the cover to allow access...  Are you saying the headset view can't move up and down as you do?  That's worrisome if so.

Possibly add a recenter veiw could be useful.