Look around for the Piscel browser, it processes and loads the full page as you would see it on a desktop screen with a tap stroke to zoom and a drag to pan.
The Minimo browser is great for news browsing (or WAP sites).
The IE browser just isn't that good. They are working on a browser to try and catch up to the Safari browser on the iPhone, right now it's named Deepfish. As I understand, they are behind in its release right now?