That is a really old graphics chip.. And intel chips have never really worked well to begin with. I would suggest lowering your shader quality in the options and seeing if that makes it playable.
Developing away on one of
Multiple Macs running 10.6, 10.7, 10.8, and 10.9.
Linux, 8-core AMD, 8GB RAM, Fedora 18, nVidia 450 1GB