I don't like the phone browser. It's particularly annoying to read news with, because any site with Disqus (IIRC) causes the address bar to flash every time it receives another packet. I've gotten into the habit of hitting the stop button as soon as the text displays in order to kill whatever else is running. I could just turn off javascript, but then *.google.com doesn't work nearly as well.

The browser in Honeycomb is a lot friendlier and resembles Chrome, and word is that come Wednesday, the browser in Android 4.0 will be Chrome - what this means in practice I'm not sure, but so far my upgrade experiences have been positive.