We have built the world's largest virtual reality (VR) theater for the Gyeongju World Culture EXPO 2000. The VR theater is characterized by a huge shared VR space with tightly coupled user inputs from 651 audience members in real time. The shared 3D virtual environment is augmenting the physical audience space in harmony. Large computer-generated passive stereo images on a huge cylindrical screen provide the sensation of visual immersion. The theater also provides 3D audio, vibration, and olfactory display as well as the keypads for each of the audience members to interactively control the virtual environment. This paper introduces the issues raised and addressed during the design of a versatile VR theater, the production process, and the presentation techniques using the versatile display and interaction capability of the future theater.