Deepfish from Microsoft
Today Microsoft announced a new web browser for mobile devices called Deepfish. It aims at bringing the same experience you have on your desktop to your mobile phone. What it does is, it downloads just the thumbnail of a webpage, which is very compressed. Then it allows users to move to any part of the web page and zoom in/out for detail. The main difference this will make is reduced scrolling thro the page.
The background seems to be the launch of Apple's iPhone. This is Microsoft saying 'Hey, we want to give you what the iPhone promises, on your own phone - a great browsing experience'. Only the trial version is out at this time, and the response thus far sounds great.