Could this play some games?

Generally good enough for most non demanding games at 1366x768 resolution and medium quality.

The Radeon HD 7500G is actually a little slower than a laptop with an Ivy Bridge core i3/i5/i7 CPU with the Intel HD 4000. The Intel HD 4000 performs somewhere in between the HD 7520G and HD 7540G. The exception would be those CPUs with the "U" designation found in Ultrabooks. To lower power consumption, the CPU and the Intel HD 4000 are a little slower.
 
You are actually better off with the following Asus laptop which is not only cheaper @ $400, but the A8-4500M APU also has the Radeon HD 7640g which is better than the Intel HD 4000.

http://www.tigerdirect.com/applications/SearchTools/item-details.asp?EdpNo=7708074&CatId=4935


Why is it so cheap? AMD is officially releasing the successor to the Trinity APU called Richland. That is likely to happen tomorrow. When will those laptops actually be released? Maybe next month. So there is currently a fire sale on "older" Trinity laptops. Integrated graphics core performance increase? Unknown, maybe between 15% - 25%. Too early to tell.