I have Plays set to record at 720p - 60fps - bitrate 40mbs. It records normal games just fine with every once and away massive audio desync *1/6 of the time*.
With that being said when I try to record VR games, that's a whole different ballpark. It records it in very poor quality (144p or 320p) and then can never upload to the website.
Plays does not have any support for VR platforms unfortunately. As a result, we can't really factor in how the end result will be.