One of the things I actually like about mobile websites (done right) is that they make for better desktop websites: they take away all of the cruft far too typical of the latter and get straight to business.
Someone should make a point of taking mobile redesign as a launching point for desktop redesign.
It doesnt always work though,sometime user facing sites have complex requirements that just dont make sense on mobile,you often need 2 versions with a complete different UI.
Yet i dont believe in a high rate conversion on mobile web(phones). native apps often work better when it comes to ad or even ecommerce. Especially when "in app" purchase is just one click ahead.
I've written CSS rules to modify over 1000 sites in the past year, and while the modifications are often minor, the busier the site, the more likely I'll simply strip out elements -- asides, headers, and footers are very likely to get killed, leaving more space and prominence for primary content.
Yes, I could use Pocket or Readability, but they work an article at a time. This fixes the site for good.