I don't have VC yet, but I assume it can still be ran in DX7 mode, if it can, try that. The graphics will be considerably worse (much worse tbh) but it could net you a massive performance increase. This is done through the Warband launcher options before starting the game.
And actually, I also have Intel HD graphics, so if you try this and it helps I'd much appreciate it if you could let me know, thanks.
Also, I assume you're doing this already, but turn all of the graphic options to the lowest settings possible. Also make sure you have anti-aliasing, antistropic filtering, and v-synch turned off. Might even help to turn these settings off in your actual graphics card settings outside of the game. AA can especially cause huge FPS drops.
Running it in DX7 mode is the most likely to get you a playable FPS.
Turning off particle effects could also help dramatically, but it takes a lot away from the game. If all of this stuff helps but dust/particles are still giving you trouble, switching the particle effects file out with a less-intensive one from either native Warband or a mod could provide some benefit as well, but not if all the previous options haven't gotten you to where you need to be FPS-wise.