And here I am about to launch a service on Thursday with PayPal as my payment processor. I didn't really want to, but for my customers it's basically a requirement.
I'm expecting to take about £2k in the first few days, so I'm almost certain the account will be limited; I've preemptively supplied most of the info listed in this article to try to mitigate that.
I'll be sure to update HN on what happens.