I find it works adequately for some material, especially if you crop the margins/headers/footers before putting it on Kindle (using any of a number of tools).
I find that I'm able to easily read most PDFs formatted for book-sized pages in portrait mode, and those formatted for letter-size pages in landscape.
In portrait mode, K3 is supposed to display the full page, but it will occasionally cut off the bottom line or two and I have to zoom to read it. It's an annoying bug, hopefully Amazon will fix it at some point.
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