In my post the other day about websites that reformat webpages for reading on phones, I pulled a bozo move and failed to include Microsoft's offering in this space. Fortunately, Ken pointed this out to me in the comments.
Apparently, it does local search (for places near you) and general web search. I'm having some problems with my mobile phone connection right now, so I can't test it, but you can try it out yourself. Let me know what you think!