The new version of Pocket Internet Explorer, IE 6 Mobile, will only be available on new Windows Mobile devices next year. Here we have a video preview of IE6 running on a Touch HD, thanks to MoDaCo and a modified ROM. That said, installing a modified ROM can cause harm to your device if you don’t know what you’re doing, not to mention void your warranty, so we don’t encourage it =D.
IE 6 Mobile still needs work, but is on the right track to be a good replacement for the aged PIE. It has support for Flash and AJAX, plus has a much improved rendering engine. If you want a better browser now, we recommend Skyfire (fastest, works with touchscreen and non-touchscreen devices) or Opera Mobile 9.5 (excellent page rendering but slower, touchscreen devices only). Both are free.
Update: Just discovered something – if you tap and hold on a flash video, you get the option to see it full screen, as seen below with YouTube.