Not really, depending on what you want to do, exactly.
I can certainly rotate the fb myself (either via sysfs or fbdepth, see the K4 thread right next to this one), but neither X nor the stock UI like that very much.
Stuff isn't too broken if you start from U (which happens to be 3 on my PW2, which gets us 1 for the Inverted variant. Look into linuxfb rotate constants for the maths). The UI and a book will actually render Inverted, but touch input won't be translated properly (i.e., still expects to be Upright).
If I do that from any other orientation, things go kablooey real quick, and ligl gets its panties in a twist until I restart x (meaning don't play with this outside of an USBNet shell session).
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