Hi the red/cyan(nvidia 3D vision discover) glasses just got delivered. I can easily see the 3D in videos like http://www.youtube.com/watch?v=uKujOudUk0w. Its cool. But I have a few doubts

Most of the videos looks like black and white(with very less colour) when seen through the glass. Ofcourse the 3D content can be easily seen but I can't see the colours properly. I tried increasing both monitor brightness and contrast but to no avail. I haven't installed any drivers yet. Just going through online videos and pics.

You won't get that away, since it is caused by the function principle of the glasses.
Since anaglyph is based on color filters there will be massive color distortion regardless of your monitor settings.

You can also read 3D videos with YouTube 3D, with this you'll be able to select a color correction algorithm (Dubois) to minimize retinal rivalry. Colors will still be distorted but the distorsion will be more pleasing for your eyes.

You can find the 3D version of the Pangea video here for example :
http://www.youtube.com/watch?v=jJjJeYfAwQw

So though I can see the 3D effects, I wont get proper colours right? I also felt that the glasses are a bit thick. So probably its filtering most of the colours. Will a different glass work out?

Not if they are based on Anaglyph.
There is a improvement with trivoviz 3D since they use a more narrow band of wavelengthes to filter. But that requires special filters.

If you want full color 3D you need to get an real setup based on shutter glasses or polarisation filters.

Well I'll satisfy my 3D appetite by watching 3D movies in theatres for now. I'll wait for a yr or 2 until full HD passive 3D(or glassless 3D) takes shape.

I'm afraid you'll have to wait for more than a year or 2 to have full HD passive or autostereoscopic screens. Even active TV screens in full HD may take more than a year to appear, as it seems no TV at CES 2012 was announced to support 300MHz HDMI transmission chips (ie. 1080p at 60Hz per eye in 3D). And it's even less likely for passive or autostereoscopic displays since they are inherently half-resolution or less.

I think the Full HD active monitors are available now. The asus and acer 23 and 27inch monitors that support Nvidia vision 2 3D are full HD 3D(ie 1080p at 60Hz per eye). Of course TVs are not available as of now.

You shouldn't have to wait. There are tons of great 3D solutions out right now: passive and active displays and even HMDs. All of them are much better quality than anaglyph.

There are tons of 3D solutions. But its tough to get a full HD 3D solution(only nvidia 3D vision 2 supports this) and its very costly($1.5k). Moreover people have raised concerns that the 3D experience is not that great(my other thread)

I would recommend trying the IZ3D driver with some games. I think this gives a better sense of 3D than videos.

K sure. I'll give it a try. Thanks. Suggest some best games(4 or 5 games) that look good in IZ3D anaglyph 3D.