It works great. Connected since last 4 hours I think, haven't dropped once, the speed is just too fast, I just checked on speednet and it showed 3 mbps download speed.
I have set up wi-fi before but not on any linux machine.
No it actually is better than tethering with bluetooth, I can tell from my own experience, bluetooth tethering drains out battery much faster and the phone remains cooler when connected with wi-fi, whereas it would get a little heated up when doing it with bluetooth.
