TL;DR of the post and its discussion, generated automatically.

Roblox says Studio's Device Simulator now has a Performance Simulator: it mimics a device's typical graphics quality and memory for streaming, not CPU or GPU speed.

• Latency too? wants a range of latency simulated in the same window.
• Already there: latency can probably already be set in File > Studio Settings > Network.
• Current Device: memory mode, RAM and background load should be pickable with no device selected.