Firstly, we need to know what operating system you are using.If you are using Vista, then there is no stereo (blame nvidia and zalman), until you get the VR920 firmware update, which hasn't been released yet. And once you do have the firmware update it will only work on two games until they add support for more games to the VR920 driver.
If you are not using Vista, then all you need for stereo are two drivers which both have to have a similar version number: The normal display driver, and the nvidia stereo driver.
The stereo driver has less versions to choose from than the display driver. You should check the list here: http://downloads.guru3d.com/download.php?id=22
Getting the matching normal display driver may be tricky, because nvidia don't accept responsibility for GO graphics cards. You can try getting the display driver from your laptop manufacturer, but don't expect it to be the right version. So if you can't find a suitable version there, you can try http://www.laptopvideo2go.com. You might need the hacked inf file to go with it, otherwise it won't install on your graphics card (blame nvidia and your laptop manufacturer).
There is no guarantee that later versions are better.
You need to install the display driver first, then the stereo driver.
You may find that the new display driver lacks some laptop-specific features that you may be used to.
Once you have installed both, you need to go into the stereo section of the nvidia display settings control panel, which may be difficult since they replaced the old nvidia control panel with a new one. You may need to edit your registry to add this:
[HKEY_LOCAL_MACHINE\SOFTWARE\NVIDIA Corporation\Global\NvCplApi\Policies] "ContextUIPolicy"=dword:00000001
That makes it use the old control panel (in display settings, advanced).
Once you are in the stereo control panel, you need to change it to enable by hotkey, or enabled, and you need to set the stereo type to some sort of page flipping device (eg. DDC shutter glasses). You can also set the percentage slider to a higher value for more effect.
As for the microphone, I don't know what you mean. The microphone works fine for me (I use it for voice commands).
The iWear is definately a second sound card (but without any hardware acceleration). Some programs can choose which sound device to use for input and which to use for output. Some can't.