Research firm Forrester has released a new report looking at the state of the “mobile web” – custom web sites developed for cell phones – and says the iPhone will put the slimmed-down mobile sites out of their misery.

According to Forrester’s Vidya Lakshmipathy:

On June 29, 2007, Apple released the highly anticipated iPhone to the public. Forrester evaluated the iPhone’s capabilities, and we believe that the iPhone signals the beginning of the end for the mobile Web as we know it today: Stripped-down sites crammed onto the small screens of devices meant for phoning, not browsing, will become a thing of the past. Companies looking to stay on top of this trend should get iPhones and experience their capabilities for themselves. Going forward, firms should continue to experiment with the mobile Web sites they own today in order to learn how to create content that is timely, location-aware, and actionable for users on the go.

Just as important, the iPhone demonstrates vividly that cell-phones can effectively handle podcasts, video-podcasts, YouTube content and other Internet media.