Would have been nice if you actually linked to a page where we could have looked the at the specs.
Anyway, I didn't know Intel even made GMA chips anymore. I would assume that most games up to '03/'04 should run okay... and some of the indies.
That said, I find Ultrabooks a giant waste of money. More expensive than regular laptops, with a whole lot less power. Unless you're really traveling a lot there's not much point to them, and even then I wouldn't necessarily recommend any.
You might be better off buying something like this Samsung model (or equivalent), which really is only a tiny bit more and it'll allow you to play practically everything available on GOG, including newer adventure games that do require a bit beefier hardware. It may not be a top of the line graphics chip, but if you're not into the newest of new it should suffice for quite some time. Dedicated always trumps integrated.
TheEnigmaticT: The vertical resolution is less than 800px; that will actually end up causing you problems with a number of games.
There I thought 1024x768 was a standard resolution for a lot of older games. =P (The Ultrabook he/she's talking about has a native resolution of 1366x768)