I was intentionally vague because without proper setup and configuration 3D can definitely be underwhelming and a PITA. But with proper execution some incredibly immersive gaming can be had!
To be honest 3D gaming on consoles is OK but not a good representation of the technology. GT5 is my only 3D racing experience on console and if that's all I had to judge by I would say it may not be worth it, especially just for one game. Frame rate issues, lack of 3D optimization in software, and lower resolution are reasons why I think racing titles on consoles in 3D can be a bit lacking, compared to PC.
A robust computer is a must for 3D, ESPECIALLY multi monitor 3d. I use a TRI-SLI setup, basically a graphic card for each monitor. I chose to go with Nvidia because they seem to have the best 3d drivers and profiles. Tri-Def also has some good 3D profiles. A gpu with AT LEAST 2gigs of vram is a must, (the more the better). Currently I'm using 3 four gig GTX-680's.
I am using 3d tv's instead of 3d monitors for the size aspect. Biggest 3d monitor I'm aware of is only 27". I wanted a larger display area to exacerbate the 3d effect so at first I went with 3 55" Samsung "One Design" displays but decided that was a bit overkill at my seating position so I down sized to 46" displays (should have kept the 55"

). I sit about 3 feet from the displays which is considered close for 3d viewing but I've no ill effects from sitting so close. The perceived depth is incredible once your settings are dialed in, the monitors simply seem to disappear and I truly feel like I'm looking through a windshield.
I prefer Active 3D to passive. If going the active tv route (instead of monitor or passive), make sure the tv can process all 3d formats, especially checkerboard, not just top/bottom, side by side. One benefit to using monitors over tv's is you get full resolution in 3d while being able to maintain a 60 hz framerate. Due to the HDMI 1.4 spec tv's are limited to only 24hz when in 3d mode (fine for movies, SUCKS for games) at 1080. You can achieve 60 hz in 3d but instead at a 720 rez. I use roughly 3840x720 at 60hz.
The lower resolution is not too noticeable, and aids in easing the load on the gpu's, just crank up the AA (you did get a gpu with more vram right

) and the increased screen size more than makes up for the lower resolution in my opinion.
While I am very happy with the feeling of immersion 3D affords, and would not go back to not having the capability, there are times when 2d may be more suited, like in a room with a lot of ambient light, or playing with others watching, or just online in multiplayer. When I'm racing online I rarely use 3D (like to keep the playing field level

), but simulated driving when solo has garnered some memorable moments for me....more than once I have touched the front glass of my tv thinking I'm about to grab something on the dashboard

, and then there was a time practicing laps on the nurburgring and I got into a zone and literally felt I was in the forest!! Something about the added depth perception can really grab you in.
Sorry for long post, 3D seems to get a bad rap sometimes and I can understand why. It is definitely a process but a very rewarding one if implemented properly.
For anyone wanting more info regarding 3D tech I've found this site to be very helpful.
http://3dvision-blog.com/forum/index.php?sid=39cc3e250d8191e04c4f50631bba2155