Is this a good laptop for a college student/PC gamer?

I built a dv6t quad core notebook from HP with these specs:

-dark umber
-Genuine Windows 7 Home Premium 64-bit with Service Pack 1
-2nd generation Intel(R) Quad Core(TM) i7-2630QM (2.0 GHz, 6MB L3 Cache) w/Turbo Boost up to 2.9 GHz
-2GB GDDR5 Radeon(TM) HD 6770M Graphics [HDMI, VGA]
-FREE Upgrade to 6GB DDR3 System Memory (2 Dimm)
-640GB 7200RPM Hard Drive with HP ProtectSmart Hard Drive Protection
-No Additional Office Software
-FREE Upgrade to Norton Internet Security(TM) 2011 - 15 Month Subscription (activation required)
-30% OFF! 9-Cell Lithium-Ion Battery (over-sized) - Up to 9.75 hours of battery life +++
-15.6" diagonal High Definition HP BrightView LED Display (1366x768)
-FREE Upgrade to Blu-ray player & SuperMulti DVD burner
-HP TrueVision HD Webcam with Integrated Digital Microphone and HP SimplePass Fingerprint Reader
-Intel 802.11b/g/n WLAN and Bluetooth(R) with Wireless Display Support
-Standard Keyboard
-HP Home & Home Office Store in-box envelope

Will this serve as a good gaming notebook for a couple of years and be good for school work? I had to down the screen res to 1366x768 to get this below $1000. Total price comes to $939.51 tax/shipping included.

Also with the reduced res would it be better to get the 1gb 6770M for $50 less?
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  1. Lugging around a 15.6" isn't going to do you good at is going to be hefty weight
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