What Specs/Features for Laptop for guitar?

Fortunately, you don't need much computing power to produce music like you do video. Any i-5 with 16mb memory should be more than enough. Sounds like you're already using Bandlab for your DAW. I use Mixcraft because it's easy and intuitive to me.

You need to run your guitar line through a hum eliminator: LINK

Then run that through a digital audio interface to digitize your guitar signal into your computer: LINK

Should be all you need for now unless you're trying to do something special.

What cpu config you running now?

Honestly, you could probably even get away with 8mb memory for music.