Photoshop :: Photoshop 3D Photo Effect

I'm sure there's a tutorial out there on this, but I cannot find it. It's the new 3D still image effect you see in commercials sometimes, where the subject is extracted from the background and then the background layer is filled in, so you can animated the still image and zoom in or out, and have the subject layer move in almost 3D space relative to the background.

Is this basically how it's done, or is there a different trick, using a tripod, where you shoot the subject with background, then background without subject, extract the subject from the background in image 1 and then layer on top of the background shot, and animate from there?