The laptop isn't bad or fraud but HD graphics aren't the best to say for sure.
Try gaming with the charger plugged in and set the powerplan to highperforance.
Lenovo uses the slowest harddrives you can find these days so the problems you are facing are correct, try gaming with no other software running.
Keep in mind that this is a a low voltage dualcore cpu and gpu combo which are in no way meant for gaming.