not sure, its not my site, but I think he mainly wants everything to just fit properly in andriod/iphone. And some things removed, like the ad slider and tabs
so you would not be designing much, just making it all fit
you would have to discuss this with the site owner, he is a freind of mine
I would just do an @import url("mobile.css") only screen and (max-device-width:480px); and try jam as much css into it as I could before having to hack html.js. I imagine there will be a lot of display:none going on
anyhoo I got to get back to my work, ill message him and then cc an email to you both to get the ball rolling