I just set up Parsec to play BigBox and some pc games while I'm away. I am using my phone and a dualshock4 with a clamp mount to connect to my home pc. As far as latency I did notice a tiny hit in latency but that was in a bad 4G area so I'd say it performed fairly well. This actually made me want to get a new phone so I can still game when I'm in other states and such, playing on my 6" Galaxy S6 was acceptable but it would have been better with a larger screen, especially with pc games but console stuff was pretty ok since it is mostly designed to be view from a distance. My home connection has 30Mbit up and 300Mbit down so it's pretty solid on wifi but expect to see some latency over 4G as noted above.
Edit: Strike that bit about 4G, turns out I still had wifi on.