So I got into the Home Streaming Beta today, so if you bros happen to have any questions, don't hesitate to ask. I've played around with it a bit, impressions thus far:
1. Setup is really easy, you basically log in to the same Steam account on two machines on the same local network, and it works automatically, barring any firewall shenanigans (had to remove Steam from Windows firewall exceptions and add it again on my laptop).
2. Hardware requirements for the guest machine are non-trivial at the moment, it seems. Tried streaming to a Lenovo laptop with a Sandy Bridge i5, and a MSI netbook with an E2-1800, and they both suffered from "slow decode" problems. Those are pretty weak machines, and Valve is supposedly in the process of messing with the encoding/decoding process, but it's something to keep in mind. At it's current state, streaming to some weakass ARM set top box would be impossible.
3. At a decent resolution and framerate (even 720p and 30 fps) it requires a pretty decent bitrate. During prime time, the interference from a zillion wireless networks around my flat knocks effective throughput down to around 16 Mbps, and not stable at all. Graphics-heavy games were basically unplayable in these conditions, although Terraria ran pretty decently. Drops in network throughput are extremely disruptive to the experience. I'll try it again in better conditions tomorrow morning.
4. The thing basically streams a viewport from the host desktop, and as such functions like any other streaming software. I could tab out of the game on my laptop and see the host desktop, with perfectly functional mouse controls. So it can be useful for shit other than games.
That's it, will update as I learn more.