I have a good friend who plays on a top notch laptop, (64MB vid card bla bla bla...). However, she still can't get above the lowest graphics setting. I also have a nice laptop, (64MB ATI vid card, 2GB of ram, 2.3Ghz CPU, bla bla bla...) and I also cannot get above the lowest setting on it.
I imagine that if you can find a lap top with a 128MB vid card you would be able to get up off the ground floor but you will still probably never get anywhere near balanced.