Skyfire has to be one of the best mobile browsers for Windows Mobile. It's currently available as beta version 0.8, but it's now open to the public. Once the final version is released, it may be the best mobile browser out there.
I've played around with Opera Mobile and Opera Mini. Both browsers are excellent but they also have some limitations. Opera Mobile was crashing on my XV6800 and I was frequently getting "low memory" messages. Maybe Opera will fix these bugs in their final release.
Skyfire is great because it's fast and allows you to view Flash. You can customize the zoom very easily and if you need a mouse pointer, it's there.