When it comes to those who have carried out responsive design, is it really a case of "light touch" - small adjustments to your site (css widths etc) rather than wholesale changes? I ask this because I do see a lot of sites that completely stripdown their site into something that I personally would consider TOO simple for small screens. Personally I find these sites frustrating because they go TOO far - navigation is cumbersome because they've gotten rid of their standard navigation into Three Big Buttons To Click On The Home Page, then Three Big Buttons To Click For My Next Option. It's like the website equivilant of those horrible phone systems ("press #1 for...") that frustrate you. Traversing backwards and forwards through these sites is a chore. Also, I can't get a grasp of the site's size (in regards to overall content) and what's available to me - it's like they're leading me way too much, rather than letting me roam around their site as you would normally like to do.
I do think the pinch/zoom gesture was a game changer that actually made browsing the web a lot QUICKER and easier. However, I know that even with that gesture, you get sites that could use a little responsive design as they becomes troublesome on small screens (rollover navigation that doesn't really translate to touchscreen, etc).