Frame rate isn't a factor in lenticular or lens based free viewing 3D systems. It's primarily video resolution, where interlaced portions (horizontal lines of resolution) of each frame are focused under lenses and are projected over an area in such a way that each eye sees a different view point/or slice of another viewpoint to simulate a 3D viewing area over a wide range (so many people can view in 3D within the viewing area). Usually containing 4 or more views, (at least 3 but some have been developed as many as 8), but this also reduces the horizontal resolution of the display. The more points of views the wider the effective viewing range. It can be done with as few as two, but that put serious restrictions on where a person must be positioned to view the free viewing display without serious limitations and is ultimately impractical. With current technology, my 22in LCD display @ 1680 x 1050, could have a decent range of 3D lenticular viewing capability of about 480 x 1050 assuming 4 views were used. "x" many views per frame can eventually be interpolated via hardware from as few as two stereo views with fairly good accuracy to meet the specifications of the display hardware.
A very basic explanation of autostereostopic displays can be found here: http://www.3d-forums.com/autostereoscopic-displays-t1.html The diagrams only cover two views however.
Frame interpolation has been around for a long time but some fantastic work by MSU does a good job demonstrating how this can be put to use in autostereoscopic viewing.
Of course it's just a matter for display technology to catch up to significant resolutions, which is already withing grasp, and implementing the technologies to make them marketable. It will happen, ...just not with the PS3, and maybe not even the current version of BR.