The latency is interesting, most people can't see it or feel it if it's under 100ms or so. There's already a button press -> screen change latency of ~100 ms in most AAA games except for twitchy shooters
If you're more of a hardcore player, you may feel the extra latency as all your reflexes being off. It's harder to make jumps, perform combos, line up shots, etc.
In my case, I absolutely can't stand network streaming latency. Even 50ms is completely unacceptable to me outside of turn-based games, and I go out of my way to look into the input lag for any new monitor or TV I buy. BUT you might be different, you should give it a shot.