Look, TOR is a pretty demanding game, even for its stylized graphics and promises of the game running on lower end PC's. You may be able to get the game to play, but the FPS will definitely ruin quite a bit of the experience.
I've been playing the game during beta (and this weekend, unfortunately) mostly on my laptop, which is a more powerful laptop than yours but still doesn't manage to avoid stutter, even on the lowest settings possible and the loading times and graphical glitches certainly make the game less appealing (I've heard turning shadows off helps quite a bit for some, but it only makes a minor difference on my laptop). So it'll definitely not be a smooth experience.
I'd say, if you really wanna play the game, look for an upgrade.