Yes you can do this - only use the phone for reading the emails. Do NOT reply to anything from Ebay or Paypal on your handheld if you are going to be forwarding multiple accounts to it.
Use your handheld for reading then log into the individual accounts to reply to emails.
If you are only forwarding one EB/PP combo then you can of course answer anything from the handheld - the danger comes in when you are forwarding multiple stealth accounts.
I operate like this since I got my Blackberry and it works for me - as the lumberjack says - disable images and beacons
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