I only have one 3D monitor so I can't answer most of those questions.
120hz is an incredible experience on your goddamn desktop. I work all day with Word, InDesign and other similar stuff and the doubled refresh rate is wonderful. Running a game at 120fps on such a monitor is also awesome. It's basically the smoothness of old CRT screens mixed with the detail and colours of modern monitors. I don't think there's any 3D monitor that can natively deinterlace video like a TV, but there's software available for that.
I''ll paste a recent post I made regarding 3D:
The 3D kit is very easy to set up. The glasses come with a couple of nose pieces and are comfortable. I also wear corrective glasses and I have no problem wearing the 3D ones on top of them. They last surprisingly long too, about 40 hours until a new charge is needed IIRC. The software gets constantly updated. In the 9 months since I bought the kit it already had a couple of great upgrades, my favourite being 3D for non-fullscreen applications. I'm working at home and now I can easily jump in some windowed 3D Civilization when there's not much to do!
Hundreds of games have 3D support. The drivers come with an extensive list of games, rated by their 3D performance. There are also tips to improve it; when you start the game a small pop-up tells you to turn off bloom or whatever for the best experience. By the way, the performance is halved in every game. It will also take a couple of hours to get used to the effect, so it's better to start at gentle 3D settings.
The 3D Ready games are absurd. Just Cause 2 and Bulletstorm are my favourites. You can easily adjust and fine tune the 3D effect - depth, convergence, field of view etc. I set up Torchlight to pop out of the screen, it looked like a bunch of action figures came to life. For Just Cause 2, I made Rico to be exactly at the limit between popping out and being in the screen, and I get a huge adrenaline rush when debris or cars pass that limit and seem to jump right at me. Civ 5 looks like a tabletop game.
Even Fallout 3, which basically looks like **** is improved by 3D. It's hard to explain how cool it is to see objects in 3D. The lamest Fallout rock becomes a point of interest. Empire: Total War is **** amazing - moving the camera through thousands of highly detailed troops is something you have to see to believe how incredible it is. You suddenly grasp exactly how titanic the scale of that game is. Flying or freefalling in Just Cause 2 is also incredible. You can also judge distances much better. In the case of Call of Duty, playing multiplayer in 3D makes it easier to spot enemies among all the visual noise. Burnout Paradise in 3D is basically that wormhole sequence from 2001. Even games like Assassin's Creed, which have mediocre support, are worth checking out for a while.
I completed a bunch of 3D Ready games in this mode. I really can't stand playing Bulletstorm or Torchlight in 2D now. Some older games (like Timeshift) earned a 3D replay. For others I just activate it to fool around or out of curiosity. Due to constant driver updates and an increasing number of 3D Ready games, it's always an option.
3D movies can't be adjusted like the games, but you can fiddle with colour and brightness so you might get a better experience than in a cinema where the projector isn't properly calibrated. Also you can watch YouTube videos in 3D.
To wrap up this post: 120Hz monitors are worth it even if you won't use 3D. 3D is great when done properly and a pleasant curiosity even if the game doesn't properly support it. Some games are undeniably better looking in 3D. I don't regret my purchase, it'll provide good entertainment until autostereoscopic screens become the norm.
If you have the money, go for a 120hz monitor even if you won't use it in games.
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