mikropc.net announced today that Mozilla will release a first working version of their mobile browser (codenamed Fennec) within a week. Too bad it's just for the Nokia internet tablet at the moment. So far I've been using the mobile Opera on my Windows Mobile smartphone, but it's not free. I have bought a license for it, though, and hope that future releases will remain free upgrades.
Skyfire is also an interesting product, but for some reason it's for the US consumers only.