Not at all. It's my understanding that CPU clock speed can have a material affect on fps in WoW - perhaps mores than the GPU. As this setup is only 2GHz, I'm concerned that I'll be stuck at a lower quality setting despite spending a lot of money.
I have no idea about your particular selection, but yes, cpu and ram makes a tremendous difference in WoW. I haven't checked at all in Cata, but after I bought a 460 videocard in Wrath I got 200fps in the classic world yet still stuttered to the point of unplayability on that giant whelp pull before Sindragosa, just the same as I did before the upgrade.
The good and the bad seems to be, if it's a fight that doesn't stutter, you can crank everything to max no problem (especially with that videocard). The bad is, if it's a tough one for your system you can run at minimal and it'll still suck.
edit: Oh, and while I still don't follow mobile numbering or performance at all, if that's one of the higher end new Sandy Bridge ones, I'm sure it'd be more than enough for WoW, whatever its clockrate.