At the current moment in time, you most likely will not get decent performance on any setting at any reasonable resolution with those specifications. Not only is the game in a very early alpha, but people with a lot better specs than yours report FPS in the range of 40-50 FPS on low settings because of the lack of optimization. You may be able to enjoy the game more when it gets later into the development stage, but at the current moment, I would think that you would experience a hefty amount of frame lag.