Blackfriday? With that in mind I am 100% sure we can find you something better for around $700. The GPU in that is not awful, but the 4200U is going to be a serious problem. Its a ULV processor, so its going to be throttling like the crazy under load. That will be bad as from what I can tell you are going to be throwing demanding software plus PS2 at it. Let me look around and see what I can find.
This Lenovo Y410P is priced @ $750, but it may go lower during Blackfriday time frame. It has a quad core that beats the 4200U with ease, plus a stronger GPU. It will be a night and day difference using this laptop compared to that Toshiba with what you want to do.
http://shop.lenovo.com/us/en/laptops...es/y410p/?tt=b