Also, you'll need to be very sure that you have the order as you want it. If the newest content is placed on page one then all new content causes older content to get bumped down from page to page.
On our site, nearly all paginated content is organized by subtopic. If anything new is added to an article or other entity, it's nearly always in the form of an update, not a new page.
In other words, if we have a guide to pie-making (which we don't, since our site has nothing to do with pastry or baking), the structure is something like this:
Page 1: Pies (introduction)
Pag2 2: Fruit pies
Page 3: Cream pies
Page 4: Nut pies
Page 5: Meat and other savory pies
Page 6: Related resources
This approach works well for the author, for the reader, and for the search engine--especially when the pages are connected with link rel="prev" and link rel="next", since the pagination helps Google understand that the half-dozen pages are part of a single, in-depth entity and not keyword-driven mini-articles from a content farm.