Pompeyfan,
There can be multiple reasons for your speed issue - so it is hard to be too specific. But generally speaking - the following might help, and are based on some broad assumptions.
While working in sketchup: - the video card and memory are critical, as your processor should be sufficient. All of the comments regarding the on-board intel accelerators apply. A seperate nvidia or ati chip based video card with dedicated 256 mb of memory would make a difference. More than 1 Gb of ram would help for larger files.
While rendering with the V-ray plugin: - the video card play no part with the exception of showing you the progress and end result on the screen. There are a couple of potential causes and solutions
1- Vray likes to take all of the processing power of the chip - so you will not likely be able to do much else while rendering with a single core chip. also - Vray can take advantage of running multiple cores to help with this.
2- Your memory of 1 Gb is low for rendering - jumping to 2 Gb should help your system with some breathing room
3- Vray has some very efficient pre-sets for rendering that I would suggest you stick to till you get more comfortable with what can and should be tweaked.
4- File optimization can never be over rated, all of us can always do better.
Hope these help - I know how frustrating it can get waiting for the renders at times!
Bytor