Yeah, you can run it on low. However, it is better to get a laptop with a dedicated video card even if it is something like a nVidia GT 520m which is a little better than the Intel HD 3000.
If you just want something for the short term like 1 or 2 years, then the Intel HD 3000 graphic core found in all mobile Sandy Bridge Core i3/i5/i7 CPUs should be fine. It is the equivalent to a Radeon HD 5450.
Intel will be releasing the Ivy Bridge Core i3/i5/i7 desktop and mobile CPUs this year . IB CPUs will probably be released in March or in April based on the most current information available. All mobile version should have the Intel HD 4000 graphics core. According to Anandtech.com, they estimate approximately a 60% increase. If true then that means the Intel HD 4000 will be about equal to a Radeon HD 5550. Still a bit weak compared to a dedicated video card, but that's a significant improvement for Intel; much like going from the old GMA 4500m to the Intel HD 3000.