Russell writes about Google: "So instead of trying to figure out where to get equivalent mobile inventory, Google simply flipped the switch and are now using regular AdWords advertising"

I don't quite get why this is a good thing... won't the AdSense links take you through to transcoded versions of web pages? Will these be appropriate for mobile viewing, or (in the cases of destinations which involve transactions) be worthless to advertisers?

As an advertiser on Google, I'd certainly want a say in whether my ads get shown to mobile users or not.