In this paper, we investigate the applicability of perceptual image quality metrics for quality assessment of Motion JPEG2000 (MJ2) video streams over wireless channels. A performance evaluation of MJ2 quality for different levels of source compression and channel coding settings is provided. This reveals insights into the characteristics and suitability of the considered perceptual quality metrics for wireless video quality assessment. In particular, a reduced-reference hybrid image quality metric (HIQM) is identified as the most favorable metric with respect to supporting real-time applications. The findings obtained from the considered scenarios may also guide the design of efficient physical layer functions for wireless video systems.