Is low latency wireless transmission feasible now? The last time I worked on anything here, there were a number of problems with transmitting highly compressed

Is low latency wireless transmission feasible now? The last time I worked on anything here, there were a number of problems with transmitting highly compressed, low resolution video data. The consumer devices could not handle just sending the packets. In my project we were annotating real time video and only sending back the annotations, but even that would cause devices to overheat and the applications to fail in really interesting ways.