CPU: Intel Core i7-2670QM 2.20GHz (3.1Ghz with turbo boost)
GPU: NVIDIA GeForce GT 540M 2GB
8gb of DDR3 Ram
Generally, what should I be expecting out of my laptop?
More specifically I'd also like to know if 4 person multiplayer without any lag above 480p is feasable on Mario kart, Brawl and I guess goldeneye. Thanks in advance for indulging in the billionth time a question like this has been asked.
Why don't try it out first instead of asking if you have the laptop in hand?
Why not both?
I have been playing around with the emulator but 4 player stress is hard to test by yourself. The idea was to get the input of someone on a comparable machine who's gotten more out of their system than I have so far.
Multi-player mode is demanding, normally. And that CPU won´t cut it on "demanding" titles (SMG, MK Wii). Out of those you mentioned, you´ll get more chances with SSBB since that one is very light weight.
Does netplay use more resources than offline multiplayer?
No, it'll be the same as offline multiplayer. However, if your connection isn't good (e.g. high latency) or if one of the remote players aren't running fullspeed, in your side the game maybe slowed down to prevent desyncs...
Netplay actually uses like 20% more CPU than offline, probably due to having to wait for syncing or something. Also, I have the exact same processor and can run Dolphin mostly fine. I used to be able to run Mario Galaxy at around 45 fps; but that was quite a while ago. Mario Kart Wii is probably a no right now, but if texture pooling is ever merged again, it should be possible on that processor.
Source: Experience.