Is this laptop any good for gaming? Lenovo ThinkPadE545?

If you want to get something that is powerful and worthy of running games at a solid 60fps, you should consider getting a desktop. They are all around more powerful than a laptop, however the laptop you have listed is OK, but i would recommend getting something with 8 gigabytes (still DDR3).

No, that graphics chip (the HD 8550G) is not sufficient to play most games. It might play games that were made 10 years ago or more, but nothing new.

16 gig? Gart is smoking some pretty good stuff. He should share.

There isn't a game on the market that needs more than 4 gigs. 8 is typically recommended to provide enough for the OS, the games and any other applications you might have running at the same time.
The most inexpensive laptop suitable for gaming at any level I have seen is the Lenovo Y40, which I recently saw in the mid to upper $600's. Normally, entry level gaming laptops start at around $750 and go up quickly from there.

For gaming "on a budget" you absolutely have to go for a desktop which will typically cost at least 1/3 less than a laptop of comparable performance.

Can I run this game.

Your first option is to go to a site like CanIRunIt.com, there are several. Enter the information of the system you are considering and it will tell you how the games you select will perform on that hardware. You should probably do a little research on which of the games you want to play is the most demanding.

Alternatively you can search for your most difficult game and "recommended hardware".
Of the links that come up, use the one for game-debate.com. Scroll down the page to where you can enter the hardware you are considering and it will tell you how your hardware will perform with that game.

Cheers guys. I think I'll stick to console gaming.