Mango adds IE9 and HTML 5
Joe does some HTML demos. First he does high def video and it plays flawless. Second he does a HTML test with iPhone 4, nexus S and current windows phone. Windows phone finished first, android second and iPhone finished when ever it felt like it.
also worthy of mention, address bar in IE when phone is in landscape mode.
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You can test your browser here
http://ie.microsoft.com/testdrive/Performance/SpeedReading/Default.html