Virtual locomotion technique (VLT) is a fundamental component of virtual reality (VR) systems that translates physical and controller inputs into virtual translational movements and viewpoint transitions. Poorly designed VLTs can result in discomfort, nausea, and reductions in task performance. Understanding the effectiveness of VLTs across various levels of interaction fidelity is crucial to enhance user experience and spatial awareness. The current study addressed a significant gap in VR design research and practice, as few previous efforts have been made to comprehensively evaluate the effectiveness of controller-based VLTs in virtual indoor environments. We conducted a user study in which participants navigated through two complex virtual environments, one focusing on exploratory tasks and the other on goal-oriented navigation. The findings offer insights into the trade-offs among spatial knowledge acquisition, wayfinding performance, cybersickness, and sense of presence, and have design implications for future VR interfaces.