Windows virtual machine core i7, and laptop

yes i was wondering could you buy a low end computer and set it up as a virtual machine so it could use the power of my main desktop computer over the LAN network and play online video games like warhammer, or WoW. im on a tight budget and dont really want to foot the bill of a 750dollar laptop but i have found deals for about 400 for laptops with t3400 processor with 4500ghd intagrated graphics. or a t6400 with intergrated graphics


my desktop that i would virtual machine it to for when i play video games on the laptop like on the porch ect. well my desktop is a core i7 920 with a 9800GTX+ graphics card. would virtual maching it makeing a second partition on the laptop for when i want to boot in virtual machine to play a video game on my porch. can this be done? is it hard or to complex? would i have real bad game play or lag. if i left out any information please let me know

thanks
winter