I rented Twisted Metal on it last week. It works VERY well surprisingly however I am plugged in directly to ethernet and I have a 100 Megabit connection.
The only thing that will slow down PS Now from taking off though is the selection of games and the pricing is awful.
No doubt about the pricing its gotta be fixed soon.
However, Sony certainly is ahead of the curve here with streaming games. Much how netflix got rid of all the movie rental places game streaming could do the same to game stop. That is years down the road though, once they get the rights, money, and tech up to par its bound to take off.