Can my potato run this?

Well a potato could run GLaDOS. So maybe? :p
Not sure how accurate it is, but have you tried this?

Comparing the minimum specs for Borderlands 2 and your card, then I would say yes. GeForce 8500 which is minimum scores lower than your card on this ranking list. This link here also says its possible. I however highly doubt that you'll have an enjoyable experience.

-Requires Steam Client to activate. Steam key only valid in North America.
if you aren't in north america, i would suggest trying somewhere else, as for the recs the site cams02 recommended is good reference material

That's a very powerful potato. I was playing Borderlands 1 on Intel HD 2000. Anyway, I found this on some site:

Borderlands 2 on NVIDIA GeForce GT 720M

low 1024x768 - 46.8 fps

med. 1366x768 - 31.5 fps

high 1366x768 - 21.5 fps

Just use CYRI: http://www.systemrequirementslab.com/cyri.
It'll automatically tell you if your computer is meeting the minimum and recommended requirements for thousands of games.
I use it every time I want to buy a new game, and not sure if my potato will run it ;)

I can easily run Borderlands 2 with my GT 620m (which is around 30% below your GPU), 38-40 fps between medium-high settings with 2x Anti Aliasing enabled so you should be fine.

However FarCry 3 basically murders my laptop, I barely hit 14-16 fps on the lowest settings! haha

It might run this, if BL2 won't work ;)

you can easily run it my potato is worse dual core 3ghz 1.5 gb ram and a gt9500 and i can run it no problem

maybe at lowest setting buy you have a laptop so...

yea u can easily run that game with GT 720M. so relax n enjoy gaming :D

You probably will be fine. The RAM and CPU is a bit light (are you sure it's not 2.4 GHz? 1.4 seems really low) but you should be able to run the game. It won't be the most pretty, but it will run, perhaps with some stuttering.

Bullshit... You can play borderland 2 as well on medium without phisx. ;)

i played it with an AMD Sempron 3200+ and 1.5 RAM