Yes, the tool is designed in such a way that it can convert PST files to NSF without Outlook installation.
You can use any edition of IBM Notes to open the resultant NSF file, as all versions are supported by the software, including the latest Lotus Notes 10.0 version.
Yes, using Outlook PST to Lotus Notes software you can migrate all emails with linked attachments as well as other data easily.
The tool does not inflict any restriction in the conversion of PST file. Using the tool you can migrate Outlook PST file of any size.
Migrate PST File to NSF File