Zalman make 3D LCD displays that use circular polarization (using horizontal interlacing). You can use the same cheap light glasses that cinemas provide with them.
I have one myself - http://www.zalman.com/ENG/product/Product_Read.asp?idx=384 - and it works, but there are quite a few limitations. Obviously there's the consequences you'd expect from horizontal interlacing, less resolution to each eye. For PC gaming the Nvidia drivers are pretty good, but, they only work with the earlier Zalman monitor. Zalman didn't cough up the cash to Nvidia for them to continue support, so even though the Nvidia drivers are quite capable of supporting the newer Zalman monitors, they won't (although unofficially, it is possible to get them to work with a bit of hackery). Otherwise there are 3rd party drivers (http://www.iz3d.com/ for example) which have their own issues, e.g. variable quality and being detected by PunkBuster as a hack.
There's also quite extreme limitations on the vertical viewing angle for 3D, a 10-12 degree range. Move your head up or down out of that and the image splits.
As for the PS3, it won't detect this monitor as being 3D enabled at the moment. It relies entirely on automatic detection, there's apparently no way to manually configure it, so if it doesn't detect the display as 3D, that's it, no 3D for you. I'm not sure the PS3 even supports horizontally interlaced 3D output at the moment either.
I wouldn't really recommend it at the moment. It does work, the effect is great with the Nvidia drivers, and it is a bit cheaper than active shutter glasses solutions, but I expect (hope?) the technology to improve quite rapidly over the next year or so, so I'd hold off going down this route at the moment (if I didn't already have one).