So I've selected the i7-6820HK to be my processor, alongside Nvidia's GTX 970M. How will this fare for dolphin? Also, I have chosen the Arctic MX-4 as my thermal paste. (My Alienware 14 overheats and turns off when turbo boosted to 3.4GHZ via throttlestop, so hopefully I will be able to turbo boost above 3.4GHZ without overheating, thanks to extra help from the thermal paste.)
(Previously owned the i7-4700MQ and GTX 765M)
That is an overclock-able CPU . You can overclock it to 4.2GHz if you want . Watch out the temp though (85C or above can damage your components) .
If you passed 1 hour Prime95 Torture Test and kept Vcore below 1.35V then your laptop would be fine
GTX 850M GDDR5 can handle up to 4x Internal Res (2560x2112) . Your GTX 970M should be able to handle 6xIR
Dolphin isn't that demanding on GPU , even my low end GT 540M can handle 2.5x IR (1600x1320) just fine
Btw , Skylake's iGPU Intel HD 530 isn't too bad , it should be on par with my GT 540M which is faster than your previous HD 4600 or it might be even faster than that (3xIR might be do-able). So if your laptop run too hot when you overclock , you can force Dolphin using integrated GPU via Nvidia Control Panel and that should lower the temp inside your laptop