Kudos Russell!

Why 512mb of traffic allowance? Why not 513mb? ;)

I reckon you should start playing right away. I don't see why you need to wait for mobile operators get organised. Jump straight in, particularly for your technical audiences.

Perhaps offer a mobile version of the feed, with all images stripped out and perhaps mini thumbnails and a 2 line summary.

The new Sony Ericsson phones are coming with RSS readers built in. Generally speaking you're going to have to sit there and key in the RSS feed though, so it'd be rather good to create some short feed URLs, e.g. calacanis.com/mobile/

The geeks are already doing it though. For example, quite a few people I know get the Engadget feed (as it stands) from www.mobileglu.com. It's a web based feed aggregator - you set it up with your feeds (so long feed URLs are no issue) and then download and run the Mobileglu applet on the phone. I don't have a java based phone -- I use a T-Mobile MDA and get the Engadget feed via a PocketPC feedreader.

Also: dynamically repurpose the website code when it recognises a mobile browser. Keep it simple and clear, just like Gmail Mobile or Google News Mobile.

Every success!