I created http://home.nibzy.com/ or http://nibzy.com - basically bookmarks to all my favorite sites and then some to site with optimized mobile. Check it out and set it to your homepage if you like it. Heres a plain text version also - http://home.nibzy.com/plain (loads slightly faster)
Try Pulse Reader.
Pulse looks pretty cool, but isn't it more of a replacement for Google Reader?
Can I use it for any url?
Only if you can subscribe to RSS. There's nothing else you can do about normal sites without a mobile version. Were you just pinch-to-zooming? You can zoom the page directly on the content just by double tapping the screen, in case you didn't know. It works pretty well usually.
That's too bad. I'm surprised none of the mobile browsers have some kind of reading help.