MoFuse takes your existing blog and in a couple of clicks turns it into a mobile friendly site. You can even embed some php code into your WordPress blog that redirects all mobile traffic to the mobile version of your site.
If you want to take advantage of ad revenue, Mofuse incorporates AdMob banners and Google AdSense into your mobile site. You also get analytics to see who is accessing your mobile blog.
Note that I have yet to implement the php code on blogstorm because it seems to redirect all traffic to the homepage of the mobile blog and I couldn’t figure out what would happen if a visitor arrived at an old blogstorm post.