yes u can get a stable gameplay at around lower-medium settings with these specs.
i suppose u r using a laptop as u r using those m editions. so it'll cause u some problem with the performance but dont worry its nearly neglectable.
so looking at the specs u r having,u can play bf3 on a stable fps as i've tested it with my core i3 2100 and i53240m @3.2ghz on my laptop. m having hd7730 on my computer so the performance went good but had to disable a lot of features. but yea i was able to run around 50fps on 40-45% settings were selected as the lower medium setting level.