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You are both wrong and right. Right and wrong.
The answer is: it depends.
It depends on the codecs, and whether or not the codecs can be run on the GPU and the software pipeline allows them to do so.
But the safest bet is always going to be to have a decent CPU. RAM won't help as much as an SSD will, as the volume of data being moved off disk and through the CPU will saturate RAM in all laptops.
Velocio
@TRA
I may be wrong, but I'm fairly certain graphics cards have nothing to do with rendering video* or how fast RAW files get processed?
When I say rendering video, I mean rendering applied effects in software like Adobe After Effects or encoding video to different formats etc. Not playing back pre encoded video...
You need CPU and RAM for crunching things