That's an interesting solution, I wonder how well it would work. I'd imagine this interlaced method would introduce some visual side effects, similar to what you get on a CRT.
@ Bizkit: The panel still can't show a full 1080p frame. What it will do is flash half the frame in one pass and the other half in another, your brain would then combine the two frames, the same way you do when viewing a CRT display. it sounds like a pretty good solution, although it doesn't look like you'd be able to view BDs at 24fps.