GT 330M is less than a desktop GT 220 by about 10%, which in turn is worse than a 9600GT or HD4670 by 10-20%. So I'd say it's about equal to a 9500GT or 4650. Will run older games on medium detail settings at the standard resolution of 1600x900, but not good enough to run recent games at native resolution on reasonable settings at 30fps.
So, yeah, a good office machine but still isn't the right balance of video card performance and weight/size.