Beacuse the Nvidia card and the CPU share a heatsink together, you should play your games using the Intel HD 4600 when possible to prevent temperature throttling. You'll still be able to hit like 2-3x IR dependiong on the game.
You should have no problem running Melee. @himalayan: the CPU you're talking about is a 2nd gen CPU, and the i7-4700MQ is a Haswell CPU. For the same clock speeds, Ivy (3rd gen) had a 20% boost over Sandy (2nd gen), and Haswell (4th) has a 30% boost over Ivy.
You should have no problem running Melee. @himalayan: the CPU you're talking about is a 2nd gen CPU, and the i7-4700MQ is a Haswell CPU. For the same clock speeds, Ivy (3rd gen) had a 20% boost over Sandy (2nd gen), and Haswell (4th) has a 30% boost over Ivy.