OK but with what resolution? Is it as good as playing it in a standalone blu-ray player and playing it on a 52" HDTV?
To my experience, yes. 2GB of memory is enough for most tasks. For watching hi-def video like blu-ray, you want more video and/or cpu processing power.
I'm running a laptop with Intel Pentium dual core (T2370) running at 1.73GHz with 2GB of memory and an integrated intel graphics. It runs blue ray files just fine (That's 1920x1080 resolution).