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The reason the PS3 has such an easy time doing 3D is due to the fact that it can render to multiple targets in a single frame (see: deferred rendering, the reason KZ2 looks so good, and the major advantage the PS3 has over the 360, in terms of rendering horsepower).

The 360 cannot do that efficiently, but it can do it -- especially if most of the data was pre-processed, and didn't have to be rendered on the fly (i.e. a movie frame). The GPU is likely taking a pair of "depth textures" and two source movie frames, and using them to generate a "3D image", which the special glasses separate for your eyes. In the PS3s case, if can actually render the scene from two points of view in a single frame (whereas the 360 cannot, without horrid performance issues), and then combine the images.