3D will not work at this point.
It´s not a fad, and it´s here to stay, but it needs to evolve.
If many people say that 3D gives them a headheach, many say they have them when watching Avatar, now image playing a video game, where you need to close follow characters jumping, shooting and whatnot.
Many say the get headheaches after playing 3D on the PC, so...
Besides, imo, 3D in gaming will only be meaningful without the glasses, something i´m expecting to see with Project Natal, not because it´s MS and all that crap, but because Johnny Lee, the man that made 3D with the Wii without glasses is working on it (but Greenberg already said that MS is not thinking about 3D at this point).
Now, on the Youtube video posted above...
Nothing changes, you still need to get a new TV, one with HDMI 1.4.
But the point is only one, sooner than later, all consoles will have 3D, not just the PS3, and with the 3D Over HDMI enabled by HDMI 1.4, the only one that can´t do it is the Wii (because doesn´t have HDMI).