Holy shit is this trippy as hell. I can officially confirm that 3d does in fact work with a 4890 using those iz3d drivers. I don't have the glasses, but I do have the stomach ache of running around in counter strike for about 10 minutes changing the separation from 0% to %5000. I tested it both on my 2233RZ and my FW900.
Since I don't have the glasses, I don't know what separation % you are supposed to be using, but I noticed textures popping up and leaving randomly using 100% separation. Obviously the game was optimized quite heavily without 3d in mind and I'm sure that is just a problem with the engine itself.
I'm also not sure because the screen shots are taken as if the 3d driver was not running (always right in the middle) but It looks like the rendered image is printed onto the screen with a dot matrix printer. It may just be an illusion because once again I do not have the glasses, so If someone with the glasses could comment that would be pretty sweet.
Other than that I can definitely say the 3d effect works. It may be an IP that is "locking" ATi out of doing its own 3d implementation, or its entirely possible that the guy in the interview was just full of shit.