Hashing on the client side doesn't solve the main problem password hashing is intended to solve - what happens if an attacker gains access to the hashed passwords database. Since the (hashed) passwords sent by the clients are stored as-is in the database, such an attacker can impersonate all users by sending the server the hashed passwords from the database as-is.
On the other hand, hashing on the client side is nice in that it ensures the user that the server has no knowledge of the password - which is useful if the user uses the same password for multiple services (as most users do).
A possible solution for this is hashing both on the client side and on the server side. You can still offload the heavy PBKDF2 operation to the client and do a single hash operation (on the client side PBKDF2 hashed password) on the server side. The PBKDF2 in the client will prevent dictionary attacks and the single hash operation on the server side will prevent using the hashed passwords from a stolen database as is.