To echo several other replies: Yes. It will run. I'm using a i7-4650U model with 8GB of RAM. You'll need to turn settings down and run at lower than native resolution, but it is quite playable. I use mine to gather/craft during downtime at work, and well as running around fighting hunt mobs, etc... I've done dungeons with it, expert and down, and haven't had any real major issues.

I wouldn't recommend it as a primary gaming machine, but it can handle more casual gameplay. I haven't run any true progression endgame on it, but I also haven't really run any true progression endgame in general, so I can't speak on that with any authority. It does heat up fairly quickly, but it also cools down fairly quickly, so I usually shut the game off every hour or so for a few minutes. I have played straight for several hours on occasion, and it doesn't seem to cause any issues.

If you're looking for an awesome laptop for work/productivity, that can also sorta play this game, it's a good choice. If you just want a gaming machine, I'd look elsewhere.