There are plugins out there for 3D editing, but they are expensive even with the latest price cuts by GoPro. If you have FCP and After Effects and you're on a budget then this workflow is for you. Part two of the video and the finshed result after the break.
Well we have to qualify the 'no extra dollars needed' headline. To get the media into AE, you will need the free Final Cut 2 After Effects utility script from Popcorn Island and the $19 3Z stereo preset from the video's author.
Here is part two, we import the footage into After Effects and adjust convergence.
Here is the final 3D movie result - get your anaglyph glasses ready! (We are still working out how to embed 3D YouTube videos)