Are these specifications good enough for minecraft at high settings?

Despite the low clock setting of the underclocked low voltage i5, Minecraft will run to the limit of the LCD or any HDMI external display
http://www.game-debate.com/...quirements
The issues with that laptop are:
x768 display instead of 1080p which is possible at the price.
It is an Acer, subject to issues of quality and reliability.
http://www.rescuecom.com/...14-q2.aspx

All Acer, HP Pavilion and Compaq, Lenovo G series Essentials, Dell Inspiron, Toshiba Satellite, Acer-Gateway, and Lenovo Medion(I think they bought Medion), are all subject to hardware issues of connectors and keyboards failing and overheating and low quality screens and many other issues.
They are more reliable than they were, but these are all low end consumer.

Here are two Ideapads:
http://www.saveonlaptops.co.uk/59427151-Lenovo-Flex-2-15_1656499.html
Intel Core i5-4210U Dual Core Processor - same
15.6" Full HD Touch Screen << Better
Microsoft Windows 8.1 64-bit << Same
6GB DDR3 RAM << less ram
1000GB HDD << Same
DVD Rewriter << same
Dedicated GT 820M Graphics << Much lower, but still Minecraft good.
Very slow load large data table of GPU/Gaming:
http://www.notebookcheck.net/...849.0.html
The display in this also flips to 300 degrees as a tent, able to make touchscreen useful.
This is better on Minecraft, but weaker on other games, since you get 1080p top settings.
http://www.game-debate.com/...quirements

http://www.saveonlaptops.co.uk/59419186-Lenovo-Z710_1656493.html
At £640 This is amazing
faster cpu Intel Core i5-4210M Dual Core Processor
17.3" Full HD Screen, Microsoft Windows 8.1 64-bit, 8GB DDR3 RAM
8GB SSD + 1000GB HDD (Accelerated HDD)
DVD Rewriter
Dedicated GT 840M 2GB Graphics
You get the same specs as the Acer, but in a 17.3" Full 1080P display.
Without touchscreen, and 2gb less ram, the Acer is £500
http://www.saveonlaptops.co.uk/NX.MNJEK.005-Acer-Aspire-V3-572G_1680953.html

So, yes, it plays Minecraft well, but I don't see it as the best value available.

No, they are not.

Looking at the specs and the gpu there should be no problem of running minecraft at high settings with fair fps the gt 840 m is a fair gpu with similar specs it was tested on day-z got to high settings with about 35 fps could of got higher if made some nvidia control panel adjustments