I got the steam pipe sdk working!
I used playonlinux
(Download) to manage wine for me, along with an updated system wine, 1.5.31. If you are using ubuntu you will need to add a wine ppa to get this version of wine.
Launchpad wine ppa
I installed steam with playonlinux and then re downloaded tf2. I had some problems trying to share the data files with my ntfs formatted windows drive, so I would use a ext4 formatted drive only.
After the game is installed hammer can be found under common/teamfortress2/bin. I launched hammer.exe with system wine-1.5.31.
As for settings I had the window manager manage the windows, but not decorate them. Running the program under a virtual desktop helped some of the graphical bugs, but it made the entity property window appear under the editor. :/ 1.5.31 worked all right, I'm not sure if another version would work better.
I don't think you can have wine hammer launch system native tf2 binaries, so I would just leave tf2 open on linux, and have hammer place the compiled bsps in your linux tf2's maps folder. This option can be changed in the options menu of hammer under build programs.
Compile times don't seem that bad for the small maps I compiled to test it, but I would assume that they are taking a large hit under wine. I'm not sure if wine will make the compiler produce errors, but I wouldn't be super surprised if it did.
Overall the program under wine seems all right, but there are some graphical problems relating to the views. These go away when you mouse over them or use them, but they make the editor feel a lot slower because the views don't update right when you put a new thing down, and need to be moved around a bit to display correctly.
I'll need some more time to test boojum's pack with wine hammer; I'm not even sure it is updated for steam pipe yet.