Over Ethernet, it streams 1080p30 or 720p60 flawlessly with low input latency.
Depending on your router and the location of your Ouya, 720p30 (or higher) over WiFi may also work.
The Ouya controller is fully supported, along with the Xbox 360 and PS3 controllers. The Ouya controller's touchpad works for controlling the mouse while streaming. The main problem with the Ouya controller is the lack of a Start and Back button (like the Shield/Xbox/PS3). The Ouya button is mapped to Start but it seems to work inconsistently. PS3 and Xbox 360 controllers are recommended if you need those buttons.
Right now, you'll have to sideload this app but we could put it on the Ouya store if people like it.
The download link is in the main post on the Shield forum: http://forum.xda-developers.com/show....php?t=2505510
Hopefully you all enjoy it. Feel free to post Ouya-specific issues here or general issues on the main thread.