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I'm looking at the performance stats streaming a game to my living room PC right now, and total latency is about 4-5ms, which would be unnoticeable even on a 120hz TV.
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It does sound like some people do have pretty good results with it, but my experience is really not unique (I know personally many others who have similar).

With that in mind, I maintain that this stuff is very very far from perfect.

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Yeah i've used moonlight/sunshine a handful of times and it's absolutely perfect, I couldn't even tell in most cases it was streamed.
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I have had a very clunky experience historically. But I tried the built in steam game streaming over the local network to my steam deck and this time the experience was flawless.

I feel like the problem is a very large number of rough edges and software bugs, hardware issues, etc. But it's so possible to stream over the local network with zero noticeable latency. Only if all the stars align and there are no bugs.

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I played Celeste using Steam Link from my PC over wifi to an Nvidia Shield and it worked good about 99% of the time. Is the tech perfect? No, but it does work great a lot of the time.
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I can vouch for it being really great for me as well (as others pointed out). But I use Apollo instead of Sunshine. It has some superior things baked in, including easy resolution/monitor handling. Maybe give it a shot.
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Thanks, I might give it a try if I ever look into this stuff again.
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I use a dedicated capture card ($250ish Elgato 4K X) over Thunderbolt to access my desktop. I can't imagine putting up with any higher latency than that.

The chroma encoding is a little disappointing, but I don't think there's any way to bypass it, even at 1080p.

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Its not too bad. I played through animal well, a platformer, which requires quite a few tricky jumps, but I did connect the controller to my PC instead. Adequate for most couch gaming but I wouldn't play cs2 or similar competitive game with a controller anyway.
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