Yossarian Wrote:My laptop should be powerful enough to run it (specs will be listed below), especially if it can run Bioshock Infinite on medium settings with only minor lag.
Emulators and modern PC games are two very different programs that will use your computer's hardware resources in very different ways. A great deal of modern PC games rely chiefly on the GPU for performance. In Dolphin, the GPU is responsible for how high you can set the Internal Resolution (for HD gameplay) and AA; the rest depends largely on the CPU. Time Splitters 2 is incredibly "light" on the GPUs, just about anything will run it near fullspeed, at least at 1x IR. It's also very light on the CPU. Anyway, you are correct, you shouldn't be getting any major issues, since TS2 runs like butter on just about anything.
Try the latest revisions. 3.5-367 is old as dirt and from the old, unofficial site. Download the newest builds here: https://dolphin-emu.org/download/ Tell us is you still have issues on the latest, what the issues are, and try to post your settings as screenshots so we can see exactly what you have enabled.