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I haven't used moonlight on the vita, can you map touch input to L2/R2/L3/R3? The back touch-area would probalby be good for the triggers & L3/R3 aren't used that often, so the touchscreen might work for that.
Honestly terrible, the Vita's WiFi chip is lousy so even with a wired PC and sitting right next to the router the lag is pretty poor.
Also the lack of additional triggers really causes problems for a game like Zelda where you're expected to use them a lot, you can use the touch pad but the lack of feedback makes it pretty unplayable.
If only moonlight could use the USB connection, like vitastick.
Do the triggers from bluetooth controllers work with moonlight? I don't remember if you can normally connect controllers to the vita, but there's this plugin that makes the vita think that it's a pstv, which makes it support multiple gamepads.