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Opera Mini is top dog. Pain in the butt to install though. You'll see huge threads on it on different boards. Once you get it working you'll see why.

Picsel has eye candy but when you want to browse and read stuff it's and lots of clicks dragging the page around. It's coolest feature is it's kinetic scrolling will break as soon as you go into options. Opera Mini is faster and more functional for real browsing.

Opera Mini is a free service (similar to ThunderHawk). The pages are retreived and formatted to fit your device (most importantly all the text and images are formmeted to fit your screen). You can also choose the compress/quality of images. Then the server sends it down to your phone.

I've tried Picsel, NetFront, Opera Mobile, PIE Plus, PIE and Opera Mini and all I use now is opera mini. First browsers on PPC that even begins to approach the iPhone Browser (which is very good).