Nope, I do it on my laptop all the time. I'm not sure if there's delay on HDMI, but there definitely won't be any for VGA.

And yes, USB overclocking works :D

Make sure you get HDMI or DVI unless you play on CRT. If you use VGA on a digital monitor (pretty much any LCD, Plasma etc.) then the you will convert the signal from digital to analog on the graphics card and analog to digital on the monitor. This will lead to less sharp image and worse colors.

There shouldn't be more lag than when running from a desktop computer.

USB overclock depends on having the appropriate drivers/applications for the OS. The hardware on a laptop is not fundamentally different from the hardware you would use in a desktop, except for size and power-usage.

Thanks gents, appreciated.

As I thought but just wanted to ensure the 'real-world' use of this setup is the same!

[Hey erk by the way :) ]

nice post, still waiting for my bloody laptop to come through and i wanted to set it up the same way : D WMO FTW