Fennec (Mobile Firefox) has reached milestone 7 (M7) and can be installed to a Nokia N8x0 for testing. We got some good feedback (and bug reports) from M6, so there are more than a few bug fixes in M7. Other additions include better add-on support, initial kinetic scrolling, modeless password manager, and some zooming tweaks.
There are a few people looking at ways to get better performance out of the Mozilla stack on ARM (and Maemo). We have some patches coming together, so look for some speedups in the next milestone. Also in the next milestone, look for more UI (designs here and here).
Please take Fennec M7 for a spin and file some bugs.