1} VMPLAYER (free) will certainly run a 64 bit VM -- you MUST enable (or ensure that it is enabled by default) the INTEL VT technology or the equivalent AMD setting in the BIOS -- I'd imagine though any laptop newer than about 5 years will have this working.
2) You need to ensure your laptop has enough RAM - a 4GB laptop is on the borderline - you really need an 8GB laptop so you can assign a decent amount of RAM to the GUEST.
3) The laptop should have a decent graphics card in it -- INTEL HD graphics works just fine.
4) If you can install the VM on an SSD it will perform streets better than using a spinner. (Same of course for the HOST OS).
Install VMware tools after the first boot of the VM. (If using VBOX install the additions).
I'm running a W8.1 x-64 VM enterprise system on a DEBIAN (Linux) Host running VMware workstation version 10 and performance is just fine --even for VIdeo -- note though I'm not a gamer.
These posts are all made using IE11 on the VM although I prefer the firefox on the Linux host - but this is a test and it works just fine including video playing and playing streams where Ms silverlight needs to be installed
The Host machine is a standard HP Laptop (Sleekbook 4 type of thing - nothing special) with I5 processor and 8GB RAM. I'm using 1GB RAM for the W8 VM just for testing so I can have several VM's running concurrently --I'd up it a bit if I use this as a "Daily" machine though. -- VM's don't relate 1:1 with real machines when it comes to RAM -- however you must have sufficient in the HOST to be able to run all the various VM parts of the software.
Even a reasonable i3 processor will work fine too -- lack of compute power is unlikely to be your problem.
These days bad / slow HDD's will be the bottleneck -- laptop HDD's are still hideous 5400 RPM one's unless you were lucky enough to find a rare 7200 RPM one. Go for an SSD.
(Note - you can provided the VT technology is enabled even run a 64 Bit GUEST when running a 32 bit HOST OS -- I've had a 64 bit Windows 7 pro guest running on a 32 bit XP HOST !! - but of course the disadvantage in doing that is the HOST can only see a max of 4GB so your VM will need to have no more than around 2GB RAM). !!
Enc screenshots of W8 x-64 Enterprise VM running in Unity mode on Linux Host running VMware workstation version 10. You can do it with a Windows host too -- if you don't like UNITY mode just revert to full or windowed VM. The VM panel will have an option Exit Unity mode when your system will revert to the standard look of running a guest VM. No need to re-boot or anything - Unity mode can be entered / left at will also without having to power down / reboot either HOST or GUEST.
Unity mode can be useful if you just want to run a few programs from the VM like EXCEL for example without having to get into the VM from your working desktop.
Notice to traditional menu lovers - the Unity menu works like the old menu and I've shown also on my workspace the main Debian (KDE desktop GUI choice) menu on top of the EXCEL workspace. You can maximize the EXCEL workspace too without leaving unity mode (and the menu is only there as an example - you won't see it when you are using the EXCEL workbook).