Well ive a weird one , if i play as my main i get ALOT of slowdown , if i switch to alt (new character i made) i get very little slowdown , my graphics card is a Geforce 8800M GTX, i can play everything i have on max but not STO , sometimes have to lower graphics right down to get no slowdown , the code needs serious looking at.
do you have AA turned all the way up by any chance, or even at x4, if so turn it off completely and also go into the trouble shooting tab in the video options and turn off the gpu particle option (or something similar at least) and finally lock the frame rate to 30, there is not a huge difference between 30 and 60 fps with this game so that should be ok.
setting all the above should help considerable with your issues.
also on a final note what are the specs of your laptop? the reasona i ask for laptop specs is the nvidia 8800M GTX is for a laptop, and it is only as powerful as a desktop version of the nvidia 8800GT, so you will lose quite a lot of performance there too.