It will run it, but it won't be fast, especially SQL Server the eMMC is just too slow, if you have a MSDN or MSAA benefit, I would activate your Azure Benefit and bring those up in a VM there...then using RDP from the S3.
I can tell you that SQL is very sluggish. I remote into my workstation when I need to do anything there. It is still pretty amazing how well the S3 performs however. I hope the next version will have a SSD.