I recall experimenting in High School, just taking regular slides from two viewpoints, and then projecting from two projectors that have polarizer filters on them. The person viewing also wears special polarized glasses to separate the two images for each eye. It was quite effective.
I know this can be done with some video projectors, as long as they are not LCD type, which are already polarized, but not the way you need for the effect. DLP and CRT type projectors work OK.
The only need is to generate the two views on two different display outputs for the projectors. The VBA which was mentioned to create two stereo views could do this if the views can be placed on two different displays (perhaps by putting them in their own windows)
The big benefit to this approach (using polarized glasses) is that the glasses are very cheap. The shutter glasses can be had for around $50, but still to expensive for many situations with multiple viewers.
However, I am really longing for a reasonably cost system which provides viewpoint tracking. Some of my large, complex assemblies are really difficult for the casual viewer to comprehend, even with the wonderful shading and rotation capabilities. The simple act of shifting your head for a slightly different vantage point is very important to get a "feel" for the object. If the display is done on just a monitor, the results are called "Fish tank Virtual Reality".
This "Fish Tank VR" should be pretty simple to implement, but I've never seen a low cost version, they all start at around $60,000. Yet, the hardware to do it (beyond a good video card) should cost under $100. The motion tracking could be done by a $20 camera which follows a red LED (or infrared) on a set of LCD shutter glasses.
I'm puzzled why no CAD company has implemented this... even if just for the "cool" factor to get the marketing buzz.