I recently replaced my older notebook with a new HP Pavillion DV4000 series.
I too was hopeful that I could now play Civ4. My new setup works but with the expected exceptions.
Video:Mobile Intel(R) 915GM/GMS,910GML Express Chipset Family (I think it is the next lower one to the 950. It is capable of sharing up to 128Mb of memory)
Memory: 1 Gigabyte. Really helps.
After getting the new computer, I downloaded the Demo to see what would happen. It actually ran pretty well. Graphics were kicked down to Medium and resolution was lowered somewhat from the machine default. Trying the native resolution looked a little better, but leaderheads went AWOL.
With this under my belt, I bit the bullet and purchased Civ4. I installed and then let it download the 1.52 patch. After patching I did a quick checkup to see if it was still functioning. I had to manually set the Graphics to medium again. I then replaced the exe with a certain well known third party patch.
My first game was single-user with all the default options, except cranking it down to chieftain level. The game was brisk enough, even with more civs than I usually use. I tried the tutorial at some point, but it crashed. Since I had gone through the demo tutorial, I really didn't miss it. I haven't tried the new 1.61 patch yet but will wait till the third party patch is available.
The bottom line is that the game is playable. I do not consider myself a serious gamer but merely a Civ junkie. YMMV. For me the compromise is perfectly acceptable and beats spending twice as much for a "gaming" notebook.
I am not usually this long winded, but I wanted to get my experiences on the record for those in a similar situation.