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According to what I have read about GTA4, the game is a poorly optimized console port to pc so, even the High End Gaming PC had a hard time playing it in High Settings... buggy coding = resources hogger.
Why am I saying this? Just so you won't blame your pc
Bang on. I am experiencing similar problems, even though my specifications do match the requirements of the game.
System Manufacturer/Model Number Acer Aspire 5738G OS 32-bit Windows 7 Home Premium & Windows 8 Release Preview CPU Intel(R) Core(TM)2 Duo Motherboard Acer JV50 Memory 4 GB RAM DDR3 Graphics Card NVIDIA GeForce G 105M Sound Card Realtek High Definition Monitor(s) Displays 1x Generic PnP Monitor Screen Resolution 1366 x 768 - 32 bit
Keyboard Acer Inbuilt Mouse 5 Button Wheel Laser Mouse Hard Drives C: (263 GB)
K: (24.3 GB) Internet Speed 3 MBPS Download and 2 MBPS Upload
System Manufacturer/Model Number Self Built OS Windows 7 ultimate 64 bit / XP Home sp3 CPU intel Core 2 Duo E8400 3.0ghz Motherboard Asus P5ND bios 1401 Memory 8 gigs 1066 OCZ Fata1ty Graphics Card EVGA GTX 580 Call of Duty Black Ops Edition Sound Card Creative Soundblaster Audigy 2zs Monitor(s) Displays Asus 24in LCD's 2MS X2 Screen Resolution 1920x1080p @60Hz
Keyboard Logitech Bluetooth Wireless MX5000 Mouse Logitech Bluetooth Wireless MX1000 PSU OCZ 700W GameXtreme Case NZXT Apollo Cooling Corsair H50 CPU/120mm x3 /60mm x2 /Corsair Dominator Ram Hard Drives WD Caviar 500 Black/ WD Caviar 200 Blue Internet Speed Download 19.83 Upload 0.97 Other Info Logitech Z2300 Speakers/ Bose Noise Cancelling Headphones/Avermedia PCI-e Hybrid TV Bravo/Epson NX415 all in one/ 4 Port Powered USB Hub/ LG 10x Bluray Burner /TSST Corp DVDRW External