I’ve toyed with mobile versions for my site before but have always walked away disappointed. Today, however, I was poking around online for a good iPhone-friendly formatting plugin for another project I do, and I happened upon the very cool WPtouch plugin, which renders my site beautifully for the iPhone, iPod Touch, and Android phones (sorry Blackberry… the regular site still works for you, though).
You have the option to drill down into all the site features, browse by category, email links to posts, leave comments, and much more, all in a fast-loading interface. If you want to look at the full site on your phone, you can drag a slider at the bottom of the mobile site and poof yourself back into the standard desktop mode. Long overdue, I know, but this is head and shoulders above the older mobile formats, which makes me happy.