Creating a mobi version of the site

I would like to create a mobi version of my site. I am looking into the
different possibilities, and I don't like any of them.

1) Re-create the site for any resolution: Doesn't really work for the
site. Right now it is hard-coded at 760 pixels wide. Trying to make it
more liquid to work down to 240 pixels would make a mess of the site.
Yes, I know the reasons  why sites should have liquid designs. I am not
trying to start a debate on the merits of liquid designs.

2) Create a handheld style sheet: I like this option best, but there
doesn't seem to be very much support for media='handheld' style sheets
yet. I am testing using Opera Mobile Emulator, and the phones all seem
to use the media='screen' style sheet if there is one.

3) Wait until support for media='handheld' is better: I may do this, but
eventually I will need to support handhelds.

4) Try to detect the browser using Javascript: Javascript support is not
reliable on handhelds.

5) Try to detect the browser on the server side: This is a possibility,
but it feels kludgy. At the worst, a handheld would get the
media='screen' version of the site.

6) Create a second version of the site for handhelds: This looks like
the only completely reliable way to do it at this time, but I hate the
idea of having to maintain two versions of the site.

This feels like web design from 10 tears ago. There are standards, but
support for the standards isn't good enough to be able to use them.

Am I missing any options? Which should I use?