Depends a lot on the compositor. I've been running on Sway for about half a year. It's 99% perfect — the only thing I'm missing is smooth high-DPI scaling for XWayland windows. Note, smooth high-DPI scaling is good for Wayland programs – I'm just talking about that one piece of software that I use that still needs X (Emacs).

Before christmas I played around with Plasma on Wayland. It mostly works, but there were some weird quirky behavior. I didn't look much into it, since I'm so happy with Sway.

I hear people say Gnome is fine on Wayland.

As for Nvidia: can't help you with that, sorry.