It's not really HDMI 1.4 but HDMI 3D certified. That is what we have been told by a couple of mfg we have been in discussions with. As far as will the standard 60p screens work, somewhat would be the answer. The Sony solution so far looks the best from what we have seen. They are using an IR transmitter either built into the display or added via dongle that syncs with the glasses. The system is pure 1080p in both eyes. As for content, that will be the big issue. If all that is being done is to take standard movies and put them into 3D then it will be weak. But when you have movie like Avatar which is filmed fro 3D then you will have a nice image.
This discussion will be a long term discussion for months to come.
CEDIA Certified Installer and Designer. Denon CI, URC, Crestron