The Kindle 3 itself is capable of handling PDFs pretty well - formats generally tend to work out most of the time, although some break from time to time.
The issue is the screen size - if the material you are reading is full page sized with lots of text you will need to do a lot of zooming in and scrolling around to read the text. Either that or you squint really hard and try to make out the tiny text. There is no reflow function (yet) with the K3 unfortunately.
So if the content is say, the size of a readers digest page then it would work perfectly. Bigger than that then I'd probably say no.
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