Like 3D Rift, this PSN-exclusive will be available in Japan on October 1 for a fair price: ¥500 (about $6). However, unlike 3D Rift, this add-on will require the original game. Also, it doesn't look very good. Ridge Racer 7 was one of the earliest PS3 titles available, and it hasn't aged well. There's a noticeable lack of detail in the world, and it simply can't compete with the experiences offered by current games like Gran Turismo 5. Even the 3D effect in Ridge Racer 7 is not as pronounced as in other 3D racing titles.
A North American release of Ridge Racer 7: 3D License Version hasn't been announced, but after playing the demo, I'm not particularly eager for that to happen. With so many other 3D games coming so soon, I don't think the ride would be worth even the budget-priced ticket.