How far can you go with "free" Fusion 360?

I know there is no 5-axis simultaneous machining unless you pay$$, but will the free version give you basic CAM with 2.5D stock positioning with axis 4 and 5?
if I understand what 2.5D is correctly.

Thanks in advance for the answers and help.

I am still fairly new and figuring things out, but so far the free parts have gotten me pretty far. There is a wrap feature for several of the path types that is very helpful with round stock. And by setting up the the tool orientation for each different area on the part you can have the machine work on the top, auto rotate to the next surface and keep going.
This tutorial really helped me understand the work flow.

You are using a free personal license with fusion 360 right?

I was under the impression one of the things they limited was being able to re-orientate the Z axis to effectively do 3+2 jobs

I have a startup license for 1 year, so we might be in different boats, but for me there is another tier that falls in a Manufacturing plugin (paid) for the simultaneous 5-axis work. This includes: Swarf, Multi-axis contour, rotary, steep and shallow, along with some editing tools. All of those seem awesome, but I haven’t paid up to use them and have made good progress using 2D and 3D paths (especially by wrapping). A single part will have multiple paths. I save them all out into one file and when that is run on the PocketNC the stock is positioned automatically for each path.

For me, anything that has an electrical plug icon is not available - everything else is useable.