pageoneresults - 4:51 pm on Feb 22, 2011 (gmt 0)
Remember when we used to serve a different stylesheet for printing? Same premise, maybe just a little more CSS involved. Heck, I've used a stylesheet switcher for years which allows users to increase the font sizing within documents. I've also experimented with usability stylesheets for those with color blindness. Its a piece of cake, don't over engineer the process if you don't have to. :)
The goal is to keep your content all under one roof. No need to start another site just for mobile if you can use a separate stylesheet served based on the UA. I'd like to think you don't want to fragment the content. People will visit and bookmark the same pages from your site when using a stylesheet to serve mobile content. Things will be a little different if they are visiting and bookmarking m.example.com or example.com/m/. Remember - One Funnel.