It definitely looks good, and plays better than Black Ops in 3D. 3D in Black Ops really isn't helpful to your gameplay and infact makes it quite a bit harder. GT 3D doesn't make it harder or easier, just makes it a bit more fun to play, especially if you have a wheel and sim rig set up.
Avatar in 3D however is another story, it simply looks amazing, both bursting out of the screen and falling far into it. I guess James Cameron did afterall have a hand in the making of the game as well as the movie. I think I'm gonna D'load the Killzone 3D demo and have a look at it, to see if it can match up to Avatar, even if the game is crap.