Tried it a couple of months ago, and it ran like ass. Could be due to older hardware? Serving PC is core 2 duo 6850, and htpc it was playing on is core 2 duo 6400. Wired fast ethernet connection.
You want the serving pc to have hardware accelerated video encoding (e.g. Intel Quick Sync), otherwise it runs terribly. Similarly, the client should have hardware accelerated decode, but that is very common.
It may be possible to enable Quick Sync on systems with >=Sandybridge chips plus a dedicated graphics card, but I can't find a definitive answer.