Yes you need a 120hz monitor (true 120hz, capable of outputing and accept inputs at that speed which most TV's don't have) but as someone that actually has the 3Dvision glasses, I can tell you there is a dramatic difference in computational performance needed to perform a decent 3D effect. You essentially need double the GPU proccessing speed to get the same frame rate as you would for a 2D effect BECAUSE the computer (and in this case the PS3) needs to make 2 separate alternated frames. Unless the 3D effect on the PS3 is enabled through toning down the resolution to save resources, its only going to be another limitation added on to the pipeline for the game down the road.
As for the people saying 3D is a fad, well I personally don't think it is, and I love playing games with my glasses, especially for the ones that actually work flawlessly.
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