At the moment, you can get the early bird discount which gets you the monitor and the lifetime software for 399.
For realtime 3D conversion you need a 3000 series GPU or a certain type of Mac
https://www.kickstarter.com/projects/owl3d/owl3d-shift-the-glasses-free-3d-portal-for-your-pc
how does it direct a different image to each eye?
I imagine it's like 3ds technology
eye tracking + special display technology.
It's not the first or only glasses free 3D display. There's even a screen you can apply to Iphones that turns the Iphone display into glasses free 3D.
I don't know the how of it, or how it works, but Samsung has their own glasses free monitor as well, and other brands are jumping on board.
The difference here is the 3D conversion is better because it's powered by software on your computer. Software that requires a 3000 series GPU or higher.