Certainly, Headphones.

Accell World would be pushing things a bit. Something like the NervGear from SAO or the gaming setups from the manga Yureka would be a more accurate representation.

[img=http://i102.photobucket.com/albums/m81/nightthedemon/140103-152728_zpsd7689900.jpg]

The Dream Gear 3 is a headset computer and immersive gaming system. It puts the user into a deep sleep and allows them to effectively exist in the game world by means of routing the senses through the subconscious through pseudo-science I'm not going to bother to explain because I'm not scientifically minded enough to actually go into such detail. In the basic sense this makes the game a sort of shared vivid-dream or manifested group hallucination.

So yes, your senses are synced to the game. You'll smell, feel, touch, taste, etc.
However that doesn't mean that your real world body is just gone, or doesn't exist. It's out there sleeping. Someone could shake you awake, which would effectively cause you to disconnect from the server. You'll still have the need to take care of bodily needs like eating, drinking, and expelling waste; needs of the physical body will come through more intensely than the somewhat muted senses of the game, and as such cause you to respond to them.
Furthermore someone could use systems in the DG3 itself to type or talk to you while you're in game if they happen to be hooked up to one, allowing parents, loved ones, or annoying people to spam or yell at you until you take a break. A power failure would also disconnect you.

You're asleep, not comatose. It's tough to wake you but not impossible, and you aren't cut off from the outside world; you're simply able to take part in another one as well.

Hope that clears things up somewhat.

If you need something more specifically addressed feel free to ask.