So, without further ado, I present to you reddit mobile: the next generation.
With this version, we aimed to improve the overall experience. There were some flaws that made the experience less than optimal. You’ve voiced your concern over several comment threads, and we listened.
New features

We’ve also redesigned the top part of the mobile interface, to feature subreddit logos. Now, when you browse reddit on your mobile device, you get logos, same as on the big site.
Moderators have also gotten some love, as the modmail icon now appears on the mobile interface.
Finally, we've made an effort to improve speed. We’ve cut the number of elements using processor-intensive CSS3 features, so now pages render faster.
Check it out now by going to http://i.reddit.com, on your phone or desktop. And feel free to leave feedback, at any time, in /r/compact.