Re: Sleep - Compared a traditional console, the Steam Deck does not auto-download updates quietly in the background while its asleep/docked. That is my one gripe with it. You need to have the screen on and active for it to start downloading games.
On top of that, the default behavior is to stop downloads while playing a game. You can change this in the settings, but at a significant performance hit.
Re: The 'just works' - In handheld mode, all Steam Verified titles have 'just worked' for me. Docked mode is a different story, because no game has automatically switched resolution automatically. You need to set the Native resolution mode on a per-game basis.
Additionally, there is always a chance that an unverified game you're looking for will not work very well on the Steam Deck - be it control-wise, graphically, or some other reason. It is not as 'plug and play' as a traditional console, but the device continues to get better over time with updates.