Okay, got it installed (and added to Steam). Runs fine, silky smooth 60 FPS. Resolution up to 1600x1200. Haven't noticed any screen tearing, but I've been playing windowed (at 1280x1024, monitor is 1080p).
Plays just fine with the 360 controller, but you have to configure it first in the options (don't mess with directions, they're automatically set for analog stick). Camera is L and R triggers, NOT second analog.
As for gameplay, controlling the eggs takes a little getting used to, as you pull away from the egg if you reverse direction. You'll also need to babysit the camera, as it doesn't follow you around (this is a game from 2003, after all). Plays just as smoothly as on the Gamecube, at higher resolution.