HD 3000 GPU in Sandy Bridge is actually not competitive with 320M at all, no matter how much Intel would like you to believe so. 320M still outperforms HD 3000 by far. For instance, the MacBook Air 2010 13" model can play Crysis 2 on low settings like a breeze at 1024 x 576. The 2011 13" Air can't even play the game right at 800 x 600. It's where CPU is not a limitation that HD 3000 rears its ugly head.
And the desktop version is better because it has better cooling than the mobile version. The mobile chip doesn't scale up as much because it's limited by the thermal envelope of the whole chip. Frequency only scales in mobile when Turbo Boost kicks in, which doesn't happen most of the time.
As far as games go, I think Infinity Blade 2 is a bad example. Try Infinity Blade Dungeons, or Sky Gamblers Supremacy.
Sky Gamblers Supremacy legitimately does look like Tom Clancy's HAWX at low settings, and to be able to handle a game like that at 2048 x 1536 is no small feat.
And yeah, CPU is a factor in high end gaming, but you're not going to be able to run Battlefield 3 on even low settings in most ultraportable laptops, so why even mention it? In fact, the game requires a GPU with 512MB VRAM or more and something beyond Radeon HD 6750M on a laptop to even run okay at low settings. And I personally think it's a bad example of CPU limitation because many games of the same class, take Modern Warfare 2 for instance, don't require such crazy high-end hardwares to play well.