Couldn't edit, don't know why.
(these are what I use, and I got to 160+ FPS in Nether lobby on a Dual core laptop.)
Ok so. first thing, is the most important.
ALWAYS use a resolution of 1280x720. and keep full-screen on. (full-screen greatly increases fps in some cases).
Main Video Settings:
Put render distance on 5. because Somehow on TE more than 5 Chunks don't load for you, but it still allocates more ram. (I think that depends though, I tried on 2 laptops and one gaming PC, doesn't work more than 5.)
Use VBOs: Yes
View Bobbing: Optional
Dynamic Lights: OFF. greatly lags.
Smooth Lighting: Might somewhat decrease fps. recommended OFF.
Keep Fast Render, and Fast Math on.
Turn OFF Smooth FPS and Smooth world (Smooth world only works in single player), they will "stabilize" your fps, but greatly decrease it.
also put Chunk updates to 1 and Dynamic updates to ON. (as mentioned above).
Animation settings are pretty much optional to everyone. I only have potion particles on because I PvP most of the times.
Basically turn everything to off and put sliders to the left.
Turn everything to OFF. Except: (optional)
Trees: no OFF option of course, You can set to Fast for best performance. but if it annoys you, set to Smart.
Rain & Snow: Fast.
Held Item Tooltips: ON.
Once again, these are my settings if you don't like them just don't use them... and as I mentioned, I managed to get 160+FPS most of the times in Nether Lobby. about 200FPS in B1 spawn with people in it.