I5 420m V C2D P7350

The Core i5 430M is quite a bit faster than the old Core 2 Duo P7350. The Mobility Radeon HD 5145 performs similarly to the Mobility Radeon HD 4570 in your older laptop.

Just use your newer one because it is faster.
 

xyzionz

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If your screen is 1366x768, and you wanna play on that resolutions, I would say it is unplayable for recent games, or games dated back to 2007~2008.
Since both runs on 80 shader cores and that is only double the figure on the Integrated graphic like HD3300/HD4200 on motherboards and they run on lower frequency.
I once tried to play need for speed shift on 640x480, lowest details on my friend's Acer laptop with 5470 and it is unplayable.
But you can play warcraft III with full details and full resolution.
And Torchlight as well with lowered shadows