I wasn’t sure for a while, but now I think Blu-ray may just make it. Especially if a new gimmick, er, technology catches on: 3D Blu-ray, or 3D FHD (three-dimensional full-HD). And even without this, Blu-ray continues to, despite the tough economy, continue to gain momentum.

Sales and rentals of Blu-ray disc content almost tripled in 2008, the Digital Entertainment Group (DEG) reported at last month’s Consumer Electronics Show. The entire Blu-ray disc market in the U.S. was worth $750 million last year, up from $270 million in 2007, according to the organization. 3D Blu-ray could see that figure rise further, though not until next year.

Panasonic has made a proposal to the BDA (the Blu-ray Disc Association, of which Apple is a member—though apparently not a very enthusiastic one) regarding a way of producing two way (left and right eye) full High Definition discs. The BDA hopes to begin discussions on this proposal by the end of this year with an aim of finalizing plans and commercializing it by 2010.

The Gadgetell site says that this is “an important and greatly beneficial step for Panasonic as it will allow them to avoid any format war, which will be good not just for the company but also for the general public who will be spared the worry of buying the wrong format.” This early start is a result of an increase in flip switch profits activity within companies trying to be the first to get a standard format, helped in part by the expansion of film studios with the aim of being ready to incorporate future 3D filming seamlessly, the article says.

Obviously, the film studios will see this as a great step forward, which will mean they don’t have to pick sides and run the risk of losing millions of dollars in wasted equipment, notes Gadgetell. As for TV set requirements, you’ll need sets able to manage at least a frequency of 120Hz in order to double the update rate, as well as Blu-ray readers compatible with the 3D format.

Panasonic has launched the Panasonic Hollywood Laboratory Advanced Authoring Center (PHL-AC) which is expected to speed up 3D FHD Blu-ray format-establishment and development and will work directly with Hollywood studios providing 3D title development services for 3D FHD Blu-ray titles. PHL-AC will feature a Plasma 3D Full HD 103-inch HDTV home theater system, a 3D-ready digital cinema projector (Theatrical Dolby 3D system) with a 380-inch screen theater for 3D HD picture quality evaluation, and a 3D ready MPEG-4 AVC high profile encoder.

Panasonic is, as far as I know, the only company actively promoting stereo 3D high-definition video content—and there are reasons for that. Panasonic’s 3D FHD BD technology relies on a special pair of active shutter glasses that work in synchronization with the company’s plasma HDTVs. Shutter glasses require viewer to sit directly in front of the screen and is also criticized for causing headaches.

“Plasma is currently the only TV capable of delivering a 3D full HD experience due in great part to its ability to refresh at a speed which enables multiple image display without loss of resolution,” says Bob Perry, executive vice president of Panasonic Consumer Electronics Company.

As noted by Xbit Laboratories, the technology also needs actual creators of movies to record content in accordance with certain principles (two left- and right-sided 1080p images should be recorded per every frame), which may result in emergence of separate 3D FHD Blu-ray discs incompatible with existing players and HDTVs on the software level due to the fact that they will carry stereoscopic three-dimensional content that requires high refresh rates, active shutter glasses and support from the player.

“The 3D FHD BD tech from Panasonic is definitely unique, but at this point it is not supported by other consumer electronics companies,” Xbit Labs notes. “No surprise that none of Hollywood studios have expressed their commitment to the technology.”

Still, I think Panasonic is onto something and that 3D will kick Blu-ray into high gear, at least if the price point is affordable by more than the very affluent. And it will be interesting to see if Apple shows any more interest in Blu-ray than it has at this point.