Hi , i have same GPU. 1070 8gb
I find that dcs runs quite ok in VR , even in MP play in dynamic caucasus server is ok.
I have:
All Textures = high
Water = high
Visualrange = High
Shadows = low
Terrains shadows = flat
Civ traffic = low
Heatblur = low
Msaa= 2x
AF = 4x
Deffered shading = ON
PD = 1.2
Trees = max, Grass =1000
Runs quite smooth 45fps (ASW lock)
And it will get better when ED gets mem leaks etc.. fixed.
Im sure that VR gets more optimization in future.