The video out will be, more or less, live. The delay on the wifi connection is due to encoding, packetizing, transmission, depacketizing, and decoding for display, along with error correction, retransmits, etc.. There are buffering delays and whatnot that occur as a result. On the video out it is a nearly live feed and transmission will be analog and thus more or less instant. There will be maybe a few frames of delay, but nothing like you get on the wifi connection.