Today I finally got around to doing the direct connection and controlling a machine remotely with my netbook. The main box I was using is an old Compaq nx9600, lots of things don't work in it, but the specs are still significant. I was using an acer ao110 netbook for controll, both machines running sidux. The boxes were connected directly using a crossover and both had their wireless up and running, the main box was streaming audio from a windows share in my house. I used a dj program called Mixxx for testing because I am pretty familiar with its performance on the netbook itself. My main soundcard is an Emu 0404.
While idle the average network latency between the boxes was 0.140 ms, with audio running it was 3.185 ms. I had an axiom 25 midi controller also plugged into the compaq and controlling the crossfader and such.
I got the playback latency down to 10 ms with ALSA doing the math. I got the ocassional clicks while loading songs with the other channel playing and such, but overall I was very impressed.
I haven't tried any Pd testing yet, I don't really know what to do to benchmark the performance difference, but I'll get to it and if I find something interesting I'll post here again.
Thanks everyone, this was a lot of fun and I learned a lot. And I have better performance than I ever had on Windows! I am very happy. Special thanks goes to nestor.