It works somewhat decently. I haven't lowered all the settings, but running on 720p and most settings on normal or off, it seems to be working alright. There is slowdown, but hard to tell if it is the throttling on SP3 or if it's actually lagging.
Small update. I haven't played this game a whole lot, because I'll most likely get it when I buy a PS4 next year. My last impressions are that it's quite playable. On the world map, however, there is lag. I haven't messed around with the settings further than before, but I'm confident that if you put them on low settings for many of them, it will suffice.
Again, this is on a Surface Pro 3, Core i5, 4gb ram, 128gb ssd
Game was installed on my USB3 external 500gb hard drive, if that makes any difference.