As an leader at this level, he comes across as below average at the regimental level and middling at the battalion level during WW2. The SSLAH, which was Hitler's bodyguard, was a middling armored division in 43-45- not bad but not the best in the German arsenal either and he played a role in it.
To cut a very long story short, Peiper was a very disturbing character even by the standards of the SS....
As for his leadership and tactical qualification, he undoubtedly eventually became a skilled SPW bataillon leader, gaining a number of significant successes especially with night attacks on the Eastern Front. However, when he assumed command of the Leibstandarte tank regiment, his limitations became obvious as he had no experience or training in handling tank formations and reputedly proved little tactical adroit. In consequence, lossess soared to completely unacceptable levels, making him quite unpopular with both his men and his fellow commanders.