This is a promising piece of software. It uses server side encoding and supports Flash. According to their site:

"Skyfire is a free, downloadable mobile web browser that makes browsing on your phone exactly like browsing on your PC. Now, you can use the web from your mobile phone with unprecedented speed and simplicity."

"Unlike other mobile browsers, Skyfire supports the desktop version of Flash applications so sites, including those that serve-up video and music, are rendered exactly as you would expect – just like your PC. No more unrecognizable content, unfamiliar page layouts or missing content. We support real embedded content such as Flash 9, QuickTime, Java and more."

Currently it is entering private beta stage and you can signup for it at:

I signed up for it and can’t wait to check it