Well, the combat in Skyrim has always been subpar.
The magic in VR plays really well - much improved over the flat version because you can point/control your hands independent of each other. So you can be blasting a bandit on one side and summoning someone off to the left or walling off another entrance etc etc. My playthrough was a magic user and I was very satisfied.
Archery is also great, though it requires some mods/tweaks to get the feel right. I haven't spent much time with this yet though. Stealth archer = very playable.
Melee...well, this is the weakest because obviously there is no good feedback when you put your sword into something and there is no 'weight' to whatever you're doing. There are a lot of fixes you can get to make it so that you 'have' to swing with real force. As long as you're fine to really roleplay and work within self-limitations, melee is great. But if you just want to exploit the weaknesses of the system, you definitely can (dont apply the tweaks, wiggle your sword at people to do damage).
Overall though, I'd say combat is better than the original - but original combat was...not good.