I do not like the term "one web"… It implies that there is a 1:1 relationship between mobile web and desktop web. That is misleading (my interpretation probably differs from yours as well) and causes unnecessary discussions. Jo Rabins post is very good and important, but should not have been necessary. Of course there is one web! Would be silly to build a brand new one just for handheld devices. However, the point is; don't think your desktop web site will work on mobile, don't copy your desktop web site onto the mobile, don't set up brand new infrastructure only for the mobile.