I published a more in-depth piece on the role of the browser on the cell phone.
The concept revolves around giving the browser a companion for "glanceable" content needs whereby one needs frequent and easy access.
There are a number of companies with interesting solutions already on the market making the time to market for media companies and advertisers/brands relatively quick and inexpensive.
If you are interested, I'd suggest checking out Adobe's Flashcast, Openwave, Nokia's Widsets, iPhone and Zenzui among others. (Zenzui actually just launched in beta yesterday with a new name – Zumobi)
They are all well done.