Yes, MemberMouse has a large library of SmartTags which allow you deliver dynamic content on any page based on information about the logged-in member.
For example, you could use the MM_Member_Data SmartTag to output the member's ID to access a specific file on your site:
<a href="http://yourdomain.com/customer_reports/report-[MM_Member_Data name='id'].pdf">Download Your Report</a>
There are many more things you can do with SmartTags. You may want to watch the video here to learn more: SmartTags Overview
And yes, content can also member-specific. MemberMouse allows you to easily protect WordPress pages and posts based on membership level or bundle as well as drip content to members over time by scheduling what day members get access to protected content. A great place to learn more about this is the Protect and Schedule Content article and video.