I use laptops (Windows OS). One is recent (2 years) and the other dates from 2012 and also works perfectly with the same configurations.
I don’t use the standalone version of Midi Guitar at all, just the plugin.
I use a plug-in host (Gig Performer) in which I chain one or more instances of Midi Guitar with audio and midi plug-ins (from a few to more than 20) + loopers, samplers with sound banks, audio and midi players, etc.
I can play with a latency of 128s but I prefer to set it to 256s to keep the headroom and it’s not annoying to the ear (for a long time I played on big stages with amps or returns that were sometimes quite far away).
I don’t have any problems with stability, bugs, latency or unwanted audio noise, but my computers are dedicated solely to audio and are carefully optimized (bios, processor, power management, peripherals, applications, routines, IRQs, etc).
This is the most essential point for a live system to be reliable, stable and responsive.
Macbook pro (Intel 2019 model, but fairly powerful), iRig/superceded by Focusrite 2i2, into amp going to front of house. Using Blueboard and volume pedal to switch Mainstage scenes. MG2 usually running standalone, allows me to have clean guitar and multiple midi simultaneously (piano, pad and guitar, for example). Occasionally have to restart coreaudiod process after first booting macbook, after that all is fine. Nothing else running on computer, wifi off - see Adam Neely’s YouTube channel for his Ableton updating mid gig for why. Mains power. All noise gates, effects and instruments in Mainstage. Highly recommended.
I use MG2 with a iPad Pro 10,5 from 2017 and an IK Multimedia AXE I/O as audio interface which is set to 44.1 and a buffer of 128. With the app AUM from Kymatica AB you can adjust the audio buffer to 128. Which is not possible to do with the standalone app on IOS, which will originally be stuck to 256 after a reboot/startup from your IOS device. The latency is extremely low when you are using the 128 buffer size. With AUM you also get a good amount of routing options for audio and midi signals. And you will the ability to use all kinds of plugins (synths, audio effects etc). I am using the plugin from Midi Guitar 2 in AUM from where I route the midi signaal to a Boss GM 800. And that works very solid, and it even works better, with less latency and merely no faults in note detection, than the hardware solution Boss is offering with their GK-5. I am even getting a pleasing result, with just a slightly longer latency time, when I am using an old iPhone SE instead of the iPad Pro.
In short. The more powerfull your IOS device is and the quicker the audio interfaceworks, the better it is to achieve a very low latency time with a solid performance.