Yes it should. I've PDFs created from the freely available raw text files from the http://www.ccel.org/
website. Each volume of the Pre-Nicean and Ante-Nicean Fathers is about 1600 Pages. Loads perfectly (although I've to consider a reformatted pdf for the Kobo screen).
Page Turn Speeds are the same as epub books. There’s currently no way to jump to a pdf section, so if you want to get to the middle of the pdf you’ll have to manually turn each page till you get there (maybe this will be changed in the next firmware update). On the plus the eReader does save the last page you were reading.
For PDFs and reference ePUB books (ie. Technical Manuals, Bible, Scholarly Journals) jumping to sections is KEY, as many users would jump to sections in a non-linear way.
Hope that helps. God bless.