3 reasons why MasterImage may win the 3D Cinema wars.

1.) Low cost recyclable / disposable Glasses

Glasses need to be sterilized before handing then out a second time to customers.
This is a laborious process that will significantly increase the cost of man power to operate a theater. It this cost that I think will limit the Dolby system to only the most high end theaters.

One of the more successful business strategies is "Give away the razors..sell the blades" It's taught at every business school in the country.

Well with the MasterImage glasses this seems to be the case, where they recycle the glasses over and over can keep reselling sterilized and sealed packaged glasses to theater operators. It's a brilliant strategy with glasses being the blades

The plastic glasses to cost under 0.50 a pair new.  With cleaning and reuse it's totally down to cleaning, packaging and shipping costs. What this means is even buying new glasses from China for each viewing isn't competitive with recycling.

Packaging on MasterImage recyclable plastic Glasses

2.) RealD uses a perpetual licensing agreement while MasterImage sells systems to theater chains, allowing them to own the 3-D technology outright.

3.) Low tech light polarizer on the projector. These are the razors. This is used to turn each film/video frame from clockwise and counterclockwise polarization. Real-D uses a transparent LCD panel, which is high tech with no moving parts while the master image uses a synchronized rotating wheel with low cost plastic filters.  I suspect it is much lower cost to produce then the Real-D system.

The custom Polarizing LCD panel called is Z-Screen that Real-D depends on can only be produced by a few companies at best, and maybe only one.   The MasterImage system is something that someone who can repair a projector could probably fix.

The Dolby system uses the most advanced filter system that filters out narrow bands of light. This filter is made of very thing vacuum deposited metal layers to form an Interference filter. These are only made by one company JDSU is the world's largest producer of optical coatings. It must be built in to the projector itself and placed between the light source and the DLP or LCOS light valves.