I was able to play crash Bandicoot 1-3 on my steam link with steam controller and I was having no problem to run diamond times on hardest maps. I wouldn't play counterstrike or dota on steam link, but I almost never had delay problem with my steam link.. it's interesting how many people had different experiences. I was even raiding classic wow on steam link.
You can't login until .world updates to 1.8 if i understand it right, so it's only temporary inconvenience