It may have been a good idea a few years ago, but since newer phone are able to display and entire webpage I don't see a future for it.
Sherdog works pretty well on my storm but as mentioned above there's a lot of zooming and scrolling involved. Pages don't take too long to load. Not a true mobile site but it's workable.
Reports about bad ads should include the following:
1. Location/Country
2. Device
3. Browser
4. Company/Product of ad
5. A screenshot if possible
6. Brief description of how the ad is a problem
7. Page/Pages affected8. Date and time of occurrence
Refer to the instructions for your device on how to take screenshots