Your specs are pretty good, except you video card is shared memory, do you know how much memory is going to the video card? And your HD is 5400 RPM, that is S-L-O-W! so at a glance, if you haven't installed any other programs that are hurting you (check you system resources to make sure) those are the two "sore" spots in you config. But since it is a laptop there will be little you can do about those things, I mean you could upgrade the HD, but it would be expensive and you are stuck with the video card, so all you could do is limit the amount of memory that it receives and/or add more memory to compensate. Remember if you reduce the amount of memory that is receives you will see a change in the way it handles the AERO effects, but if that is not important disabling AERO will help. But I am pretty sure that a lot of the speed issue you are experiencing is from the 5400RPM drive.
Hope this helps