It's probably a long shot, but maybe if you play the game on its lowest settings. Your RAM is fine but the game is processor and graphics intensive, so your processor would struggle and it wouldn't hurt to update the card. But I wouldn't count on it. Your laptop seems like the better option.

The good news is that with 2.0 coming the new client may be better accommodated for your machine, and you may be able to play it on standard at that time.