Diablo 3 is indeed a very well optimized game and runs without any problem on low end hardware. I manage to squeeze up to 55 FPS on low settings at 1280x720 with my Intel HD 3000 Graphics equipped laptop (Core i3 2310m CPU and 8 GB RAM), which is more than enough. I have played a lot with the video settings, but it was well worth it, as now the game runs perfectly smooth without any lag or overheating issues. I have written an article that explains the different Diablo 3 video settings and recommends the optimal ones for Intel HD Graphics and other low end video cards. If you are interested, you can check it out on my blog:
Diablo 3: Optimal Video Settings for Intel HD Graphics