I own a prior lower class machine called the Lenovo y530 with the Core 2 Duo and the Intel 5400MHD video solution. It does HD just fine. Your machine has what I'm guessing is more than 2 generations newer so expect BD and HD play will be just fine.
The dedicated GPU is something gamers must have and then hard core "buff" Photoshop users may pine for such.
If one primarily uses a Windows 7 desktop PC for websurfing, watching HD quality video via the internet or via a blu-ray player, in this day of integrated GPUs in intel core i7 chips does one really need a discrete GPU like the ones from AMD or Nvidia?
If a discrete GPU is considered a necessity, what's the minimum specs one should look for?