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My thinking was more that if the video card was being stressed in terms of everything turned up then that may affect the ability to compress and send the stream. I tried balanced and beautiful with no noticeable difference.
I'm still testing at the moment and haven't moved my PC out of the room yet but I've not noticed any issues so far.
aggi
Just fyi: this doesn't matter. Steam compresses the stream (i.e., video) and sends it to the TV. It can be ULTRA HIGH or the lowest setting. You can change the settings on the box (fast, balanced, beautiful). I keep it at balanced.
My take is different. I get similar stats as you (albeit with FPS drops for some unknown reasaon), but I can definitely see the compression in something like Witcher 3. And games that require quick, precise, and nuanced input (high-speed driving games) are unplayable when compared to the PC itself (for me). It definitely has its place though, and I have no regrets buying it.