I think it's important to also list the resolution/settings you're expecting to get out of the laptop. I know it seems obvious, but some people here still can't help but recommend something that will get you at least medium/high settings haha. Saying that might help people realize what "light gaming" is.
I think your laptop is fine for light gaming. The problem I have is that ACF (dual GPU whatever you wanna call it) doesn't seem to always provide benefits.
http://www.anandtech.com/show/4444/amd-llano-notebook-review-a-series-fusion-apu-a8-3500m/12 if you want a review. The reason I think the laptop is so cheap is exactly because of this hardware but this is a preproduction review or whatever.
If you're simply wanting to game at all low settings at a low resolution then that should work fine. I had a laptop like that in high school 7 years ago and I gamed at all low settings and enjoyed it fine. Being able to play San Andreas GTA on the plane for 2-3 hours was great. That was on intel integrated graphics. I think you'll be fine with that. That review showed that this laptop can sometimes handle medium/high at low resolutions on older games. If you're expectations are reasonable, which I'm assuming they are, then for 170 I'm going to say why not? You already have a gaming PC, you have an HTPC, you're not looking for a desktop replacement laptop just something to have on the go than pick it up. I'd look for some more reviews though on LLano notebooks though just to make sure it's what you want.
Edit: This review helps as well.
http://www.tomshardware.com/reviews/a8-3500m-llano-apu,2959-23.html
The thing with this laptop is you'll be able to game at low resolutions/graphics but you have to be careful what game you're playing. A lot of the time you'll want to disable dual graphics mode or you'll be hindering your performance. It seems this mode only helps in DX10/DX11 games. For me, this is a no go simply because I don't want to have to constantly think of what mode to put my laptop in to get decent FPS. Especially in a low end laptop where every frame counts to make the game playable as you're constantly on the "Is this game playable or not?" Line. Add in some dust that raises GPU/CPU temps, and you'll definitely be feeling it. The price though is what makes it worth it to me. $170 can tide you over til a year or two you can pick up something that's a relatively decent better performer for $300-$400 as I'm sure when intel's Silvermount gets out there you'll want it in your ultra mobile devices.