If you have a large monitor (or a small one with lots of pixels), it might. On my monitor, I can't see the whole page at once, so it would be impossible to read in any reasonable way, and there's no zoom that I've found so far.
Some of the folks doing some hacking said that there is a similar page generation mechanism, didn't they? If so, that would bode well for the screen being a close representation to what's on the Reader, and would allow you to prepare content without having a Reader in your hands.
But of course the Reader Connect software is also only available with a Reader, so you might have to wait either way.
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