Quality of such should be akin to streaming video. Latency might be slightly higher than gaming on a console due to WLAN. I guess 2.4 GHz doesn’t yield enough throughput?
Hmm I seem to suffer terrible controller lag. The Xbox cloud game didn’t quite work on my connection which was somewhere jumping between 4g/3g but then was too laggy to play Alto, a non Xbox non cloud game too. Did you have to fiddle around with any controller settings or did it just work?