I'm running it on a laptop with a mid-range i5 CPU, and an nVidia 330M. I get an average of 15-20fps with everything on low except models High and effects Medium. When you're shooting someone from up close, it goes down to 10fps.
It's playable. Barely, but playable. Definitely not gorgeous
Done a couple bombing runs with a Blenheim and actually shot down a 109 and a bunch of AI bombers over at the Syndicate server.
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Oh, the resolution is 1280x720!