Yes,my old laptop has the same graphics card,run LFS on close to minimum settings,had 50-80 fps when alone on track,was struggling on full grids though. 10-15 cars was no problem at all.
I play LFS for two years now on my 4 years old HP Compaq 615, AMD Turion X2, in demo its 80-100 fps, on busy servers like cargame its 50-70, on starts maybe drops to 10-30.... but it is playable.....