Wonder how it will look and run with these specs?
Badly. At 800x600 and the lowest possible settings you might
find it playable, though I sincerely doubt it. I've heard stories of it working on that graphics chip under those conditions, but that's before the EE update that made the game more difficult to run. It'll be running at a lower frame rate and resolution than the Xbox version if it runs at all.
That's a laptop, right? You'd probably have to take heat into account, too.