Resolution is arbitrary (up to 8K I think if you use h265). But that's for the equrectangular. Really, if you go above 4K it will not inprove anything because the cameras will limit it then. (Each camera is 1440x1080 at 42fps)
Delay is 150ms or so locally from photon hitting camera to photon hitting eye in oculus rift. If your internet is no good then it will make things worse.
We can do audio. Haven't had time to play with that enough yet though so nothing fancy like noise cancelling..
Why do you want bidirectional? Can be done, but just go to fully virtual environment then