the HD 8330 "graphics card" isn't a card at all, it's an integrated graphics card. this means you don't have a discrete (meaning separate) GPU. what you read was wrong, that setup is nothing close to "shit hot" for games. be glad you're getting even 20fps at all in MC with that thing. integrated graphics are just not that great for most games.
additionally, 2gigs of ram is probably more than enough. if you allocate too much, you will actually cause more performance issues than you solve.
edit: additionally, that CPU runs at 1.5GHz a decent CPU should be in the mid 2GHz, with high end being 3-3.5GHz. MC is pretty CPU heavy, which would explain your performance problems.