1.8GHz Intel i7-4500U Processor FOR Gaming ? What are your thoughts

The i7-4500u is not too bad for a dual core CPU. That 3.0GHz speed only happens if just one core is being used. The max speed would be 2.7GHz if both cores are being stressed. 300MHz slower, but still better than 1.8GHz. I was given a Dell Latitude 3540 with an i5-4200U running at 1.6GHz / 2.6GHz, however, I have only played Star Trek Online with it and it performs pretty well. However, it has a Radeon HD 8850 graphics chip and it's performance is between the GT 750m and GT 755m graphic chips; a lot more powerful than the GT 720M.

The GT 720m is the bottleneck, not the CPU because it is relatively weak. It is more powerful than the Intel HD 4400 graphics core in the i7-4500u, but not overwhelmingly. It should allow you to play most games at low if not medium settings with decent performance at 1366x768 resolution.

If you can step down to an i5-4200u, but get a more powerful graphics card like a GT 740m, then that would be a better option. The GT 740m is considered a mainstream graphics chip and in playing games at 1366x768 resolution with low / medium settings should not be much of a probably with the exception of some games that are really graphics intensive.