Very slow performance on Intel Ironlake Mobile chipsets

System:    Host: innerdistance-Satellite-L650 Kernel: 3.13.0-32-generic x86_64 (64 bit) 

           Desktop: Gnome Distro: Ubuntu 14.04 trusty

Machine:   System: TOSHIBA (portable) product: Satellite L650 version: PSK1EE-00Y007SK

           Mobo: TOSHIBA model: Portable PC Bios: INSYDE version: 2.40 date: 11/09/2011

CPU:       Dual core Intel Core i3 CPU M 330 (-HT-MCP-) cache: 3072 KB flags: (lm nx sse sse2 sse3 sse4_1 sse4_2 ssse3 vmx) 

           Clock Speeds: 1: 933.00 MHz 2: 933.00 MHz 3: 933.00 MHz 4: 933.00 MHz

Audio:     Card: Intel 5 Series/3400 Series High Definition Audio driver: snd_hda_intel Sound: ALSA ver: k3.13.0-32-generic

Network:   Card-1: Realtek RTL8191SEvB Wireless LAN Controller driver: rtl8192se 

           IF: wlan0 state: up mac: b4:82:fe:bd:63:26

           Card-2: Qualcomm Atheros AR8152 v1.1 Fast Ethernet driver: atl1c 

           IF: eth0 state: down mac: 00:26:6c:6e:2e:52

Drives:    HDD Total Size: 500.1GB (19.8% used) 1: id: /dev/sda model: Hitachi_HTS54505 size: 500.1GB 

Partition: ID: / size: 46G used: 8.7G (20%) fs: ext4 ID: /home size: 241G used: 84G (37%) fs: ext4 

           ID: swap-1 size: 4.09GB used: 0.40GB (10%) fs: swap 

RAID:      No RAID devices detected - /proc/mdstat and md_mod kernel raid module present

Sensors:   System Temperatures: cpu: 52.0C mobo: N/A 

           Fan Speeds (in rpm): cpu: N/A 

Info:      Processes: 264 Uptime: 2 days Memory: 2020.6/3753.0MB Client: Shell (bash) inxi: 1.9.17

 

Problem description: https://github.com/ValveSoftware/Source-1-Games/issues/1739

Short summary: I'm dual booting Windows 7 Ultimate x64 and Ubuntu 14.04 x64 running Steam, the same games run well on Windows while on Linux they are unplayable and it's definitely the driver. For example Left 4 Dead 2 gives me around 50 FPS on Windows while on Linux 10 FPS.