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My understanding is that phorm now scans the pages a user visits, builds a profile of the user, and then on participating sites or ISP - places the user focused adverts on the pages.
So - as my sites are not planning to participate in Phorm - then there is no benefit in their robot downloading pages from my site - and it is potentially just another bandwidth leech.
They are providing a way to opt out - but being cynical by nature - I don't trust them.
What robot are they using? - robots.txt
What IP address range? - firewall / htaccess - block them out.
Can we and should we as webmasters be blocking them?
(I read a few previous discussions regarding ad replacement - totally outrageous - this still the plan? BT uses ad replacement via phorm [webmasterworld.com])