well it is right up there as far as mobile gaming goes. It is certainly a class 1 card for sure. The truth is that it just depends on what settings you feel are a necessity. I personally like games more on playability than graphics. Not saying I don't like my eye candy, but it just isn't that important for me to have it cranked to 11.
in general, I would say 4x AA is plenty, the differences are indiscernable to me from 8x or even 16x. Also for mmos I find that mostly the framerate isn't quite as important as in other types of games. 30fps would be fine for a game like LoL or DoW or similar. first-person shooters I defo want 50fps or more.
Anyway, I think you are lucky to be able to afford a class 1 GPU for your laptop, I wouldn't worry that it is 5-10% slower than the king.