Adsense for Mobile

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Has anyone else had their accounts activated with Adsense for Mobile yet? I see the invitation link, and I'm interested as to the ad serve process. Presumably the ads are fetched via server-side scripting because javascript won't display correctly on most phones. I'm hesitant to go ahead and create a mobile version of my website, because I get so few hits from PDAs/phones etc as it is now, but with such tight integration into a website I would assume the ROI/CPC/eCPM would be much higher on the Mobile serving of Adsense. Any Adsense for Mobile participants here? Is it more or less effective than regular Adsense?