I tried this once on my girlfriend's MacBook Pro. The Intel HD4000 is more than enough and can do hardware decoding for better performance too. My setup is such that I can use an X360 pad connected to my PC as the receiver is close enough to where I sit in the other room for it to still be in range.
It worked good for the most part at max streaming quality (+ 1080p) with The Evil Within. I had a bit of network lag before I plugged a cable into the laptop, but after I did it was fine. My router is only 100Mbit, too, so I could probably get more performance with a Gbit switch and some Cat5e/6.
I had no controller lag because, as I mentioned, I was using it from the PC.