I use a 2520 w/ 200CX and 800lbs of rear ballast to move 4x5 round bales on a regular basis with a hay spear on the front and to put them in hay rings. It will lift them to full height. So, to answer your question I am sure it will do it.
Now, to go on, with a the 2520, I would want to be on level ground. I as far as stability...well I never let me kids do it if that tells you something. If you are reversing, say, and turn while rolling to fast, you will definitely feel the front end wanting to pull the tractor sideways. So, it is doable, but you need to way risk vs. rewards.
The 2520 never complains at all about having the bales on a rear spear, although, the do block the vision if lifted to full height.
Dan