Getting this to work has been the bane of my morning, so here's what I did to eventually get it working:
sudo add-apt-repository ppa:bumblebee/stable
sudo add-apt-repository ppa:ubuntu-x-swat/x-updates
sudo apt-get update
sudo apt-get install bumblebee bumblebee-nvidia linux-headers-generic
sudo apt-get install linux-headers-$(uname -r)
sudo apt-get install nvidia-current
Edit /etc/bumblebee/bumblebee.conf (as root). Change:
Driver=
to
Driver=nvidiaand
KernelDriver=nvidia-current
to
KernelDriver=nvidia
Edit /etc/bumblebee/xorg.conf.nvidia (as root). Change:
Option "ConnectedMonitor" "DFP"
to
Option "ConnectedMonitor" "CRT"
A reboot now should enable you to do: "optirun glxgears" without any problems. If it isn't working, make sure that bumblebee-nvidia is actually installed. Also, when the nvidia-current package was installed, make sure it can find the kernel source and isn't giving an error showing that it didn't actually build the module.
My next step is to verify that bbswitch is actually working to give the power saving.