It can easily be set up for wireless too. there is a program called DS4Windows that sets up everything for you. and I'm playing MG Rising with the controller wireless and there is no latency issues what so ever. plus it is WIRELESS which is a big plus for PC controllers.
You can also use the touchpad as a mouse and click it on the right and left for right and left mouse buttons respectfully.
The controller is simply brilliant
The only thing that doesn't work is the mic input. but thats okay if you have a bluetooth microphone (the PS3 PULSE mic works great on PC)
Edit : you can watch the gameplay here . I'm broadcasting it at the moment.
http://steamcommunity.com/broadcast/watch/76561198024951611