Surely if the 3D spec is essentially 2x current Blu-ray in terms of bandwidth/throughput, then as BD maxes out at 1080 lines at 30 frames per second, 1080p60 will be more than enough? That's even supported by HDMI 1.2... Is 120Hz actually required for anything other than ultra-high-end gaming?
If display alternates between images the refresh rate used in display needs to be fairly high to avoid flickering/eye strain. The player doesn't need more than 1080p60 but the display on the other hand... I would expect 120Hz displays to still be relatively sucky for 3d.