White can get away with a lot because he has first move advantage. By playing Qh5 you atleast give away your first move advantage as you state yourself. Note that after giving away your first move advantage your just equal.
Experimentation with the Wayward queen

moonie,
I think thus far in my research of the opening, the loss of tempo is the only thing that makes many say the opening is unsound. Other than that, I really see nothing wrong with it. I've had many say they can crush it but all can really be done is with any opening, neutralize it.
I haven't run these through an engine but it looks like White got more than equality here by playing an early c3 as if it were a normal opening. That plan is optimistic and slow and I don't think it should work in these positions. I suggested some sharper counters for the second player.
Nakamura game for example: http://www.chessgames.com/perl/chessgame?gid=1337354 Not saying White should play like this, but I think if c3 worked some of the strong players who have played this way might have tried it.
These are two games I played with username Alvin_Cruz.
The first one, he had white pieces, the second, he had black pieces.
The first game, he intended it to start with the Wayward queen but botched the opening starting position set up so we will ignore the first few moves and go to when it started. Please feel free to comment.
This is definitely an opening in my opinion that cannot be crushed. I think white definitely loses tempo for certain in the opening but if played well enough, the loss of tempo should not be to a disadvantage for white.