I currently only have a laptop to play 7D2D on, which is not a good gaming one.
I have textures to the smallest possible. 1/4 or 1/8 I think. Everything else to the lowest setting it can go.
My screen resolution is at 800x600. The only thing I keep around medium is my Draw and View Distance, as this greatly effects exploring/looting/and PVP.
With those settings I can get 45-50 FPS all day, even in towns. This is the first time I've ever had FPS that high for this game...and let me tell you, it makes the game so much better to play. I can loot correctly, build without misplacement and even melee fight zombies with ease.
If anyone else is having troubles with 20 FPS like I was, try what I did. Yes it will make the game more blocky and plain, but being able to play within that world smoothly is worth it to me.
(Press F8 to see your FPS in game)