I
save internet pages in plain text to read in Instapaper on my iPhone all the time, and it's instructive in two ways: (1) the internet often CAN be
successfully be reduced to plain text and (2) the idea that you need a
big screen for reading text is silly — you need a
big screen for graphics; the iPhone is perfect for reading text (especially with a page - flip interface ala Stanza vs a scroll interface ala Instapaper, but ok this is now officially more then two points).