There's a lot of different reasons that he could be getting higher FPS than you. His video card could be updated, he could have it at a much lower resolution which would yield him much faster framerates.

He probably doesn't have all the effects and quality turned up on his laptop and that's yielding him better framerates, but not better quality. Also for latency, you're talking about a minor difference in speeds and sometimes wireless routers can transfer faster over wifi than over wired. (Wireless N etc has theoretically higher speeds)