If you plan to game at all, there are no mobile systems with integrated graphics that will be acceptable for anything but low resolution, low detail, older games. The 945GM is the very LOWEST of the low of integrated graphics for gaming.
Other than that I don't think the laptop as listed is a particularly bad machine, 2GB of memory is nice but you could cut that in half and put it towards the cost of a better video card, and Gateway isn't a terrible brand. You might be able to do better with other brands, customized systems from Dell, HP/Compaq, et cetera, or buying from Gateway directly online.
Gateway doesn't even list such a model as MX6927 in their support pages, and anything like it is no longer a current product. It is cheaper than the nearest similar current system on Gateway's site though.
I was able to configure a Dell E1705 with a 17 inch screen and 1GB of memory for a little bit lower price. Dell seriously rapes you on the prices for adding components depending on what model machine you pick, and doesn't even give you the option of the T2250 on the 15.4 inch models.
Probably others can advise you on how well this machine will perform given the usual college tasks. It seems to me though that the 2GB is a waste of money, even without the option of better graphics.
