Yes, it works on the Intrepid and it is a new ball game. Wow, download it NOW.
http://www.opera.com/mobile/download/
I've been testing it for half an hour and I love it. I don't see flash support (at all), but for the most part I can live without that. I am very happy with it so far, I think they've done a great job.
Taking a little time to get used to single-tap zoom rather than double-tap, though.