I tried Splashtop on an iPad today. It was a horrible experience. The latency was totally unacceptable. The mouse movements was actually pretty responsive, but as you never new where you actually was on the pad, it was of little use. Another big downside is that this application only stream 1024*768 resolution as maximum. Not even normal 720P (1280*720) was available. You had to clone your display, putting both monitor in this horrible resolution. And at the same time, there was bad latency in video. Not a chance that I'll ever use it on a iPad.
On android devices with Tegra3 and better however, this might solve the problem with latency. And if that is the case, some might find the use of this. It's just a darn shame that there is no possibility of porting the full HD resolutions to another compressed format for the Pads. At least not as I've seen.
So, for now it seems my only option for a Theater View touch flipping experience on a pad is clocked down to one type of hardware. Intel CPU's. So, I'll purchase one of those if the Transformer Prime is ever redone and shipped with Intel CPU's.