Is automatic adaptation of webpages to mobile feasible?

Many modern websites either have sections specifically designed for mobile browsers, or are designed to adapt to a variety of screen sizes. But there are still some that are not.

These sites, for example, are hard on the eyes from a mobile phone (and have no mobile equivalents): - http://www.rifters.com/crawl/ - http://www.antipope.org/charlie/ - http://forums.sjgames.com/

It should be possible to create a service that uses various transformations to reformat web pages to improve how they display on mobile browsers. The result wouldn't match custom designs, of course, but might get the pages from bad to useable, particularly if the user has some input into what transformations are applied.

Is this one of those ideas that was tried and abandoned five-ten years ago, or is it a blank spot on the map?