I wouldn't trust the handles for an extended suspended period either. I would put a couple straps under the hull and hoist it from those rather than trust the screws securing the side rails or the hand rails.
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And the side rails appear to me to be better lifting points than the handles on the ends.
Not to me they don't, but I have a PA-14 and there is no way I see those side rails as being strong enough to support the full weight of the kayak. IMO they are barely strong enough for mount accessories and mine work loose after a few trips and need to be retightened. If you want to lift/transport a PA use the handles, that's what they are there for, but again I would not trust them to suspend a kayak in the air for any period of time.