Using the feed of a blog to generate a mobile friendly version of it is something we have tried when at Kaywa, and I still do believe one can make something nice of it. For various reasons we failed imho but wish all the best to Blog4Mobile :-)… good point to start with they plan to share revenue (and they provide access statistics):
After the beta phase, Blog4Mobile.com will start the central marketing of all mobile blogs. Each user gets up to 70% of the advertising incomes, generated via his mobile blog. Blog4Mobile.com is not only for free, you can even cash in by blogging!
Both 24Heures/TdG and Bleublog blogs platform have moved from Kaywa to BlogSpirit over the last 2 weeks. I had been personally involved in the projects while working @Kaywa and I got a lot of feelings when I found this out. I will not share those here, but one, actually more a thought than a feeling, “what a mess is should have been to migrate everything from one platform to the other” :-) and as far as I know they seem to have done it quite well. Impressed. I have not yet really used the new platform so I can not comment on that, though regarding BleuBlog I like better the previous design. Another comment, there is no more mobile version…