There's even a small cursor that changes when you hover over a link and moves your position so you can actually read the text.
To try it, go to mini.opera.com/beta on your mobile phone and download the browser or test it on your computer (JAVA required).
One thing I don't link about Opera Mini 4 is that it's much slower than the previous version, but hopefully Opera will improve the performance until the browser gets out of beta.
Opera compared it with iPhone's Safari browser, but, as you can see in this video, iPhone's transitions are much smoother and there are multiple levels of zoom.