(BTW Don't own an iPod. Don't have internet on my cell phone.)

Does the site have to be designed tiny or in some new form to fit the mobile devices, and then would WP have such templates?

In short, to take advantage of this mobile market, do we need to purchase a .mobi for our site, thus making two separate versions of each site (regular size and .mobi)?

Would affiliate sites be selling the same sponsors or sites made for mobile phones by those sponsors?