Good in theory, but most TV sets don't support 48Hz. You'd be looking at a pulldown algorithm. Pretty much all of the major manufacturers have resigned to 120HZ being 3D capable, simply because it's far easier to do. I only know of two sets that were able to do 48Hz, the Pioneer Pro 9X0-HD or 11X0-HD, and the PDP-1X00 line. Both were extremely expensive (think $5000+ for the 43), and even more rare.
The 3Dvision software package from Nvidia is technically capable, but it doesn't really work that well. When you back the scanning down to 30Hz for a full frame, things get pretty wonky. You end up with significant crosstalk, and flicker (regardless of active, or passive sets) is very visible. You also need a fairly powerful computer to make it run.
Possible, sure, would it WORK, yep. Will they do it, doubtful. Too much money to be made on the premium.