[aallen90]

The default settings have some noticeable latency (5-10ms), but changing the video encoding from "balanced" to "fast" drop it down to almost nothing. You can additionally plug the controller(s) into your PC to further remove any input delay. I can't vouch for emulated arcade games, but it works surprisingly well with a steam collection.

[icelancer]

Axiom Verge was unplayable on any settings I tried.