[wp-hackers] Best Practice for Mobile WP View

[Jeffrey Nolte]

We are on the process of building a mobile site in WordPress.  

I would like to get some insight on best practice for configuring the site. I have listed some details below.
Site is current in WP on http://site.com
We would like to have mobile on http://m.site.com
Both domains / views / sites will use the same database and assets (images attached to posts, etc)
Our ideas for implementation were to configure another WordPress(http://m.site.com) on the same server as using http://site.com and connecting this new WP install to the existing db (http://site.com).

I know there may be a better way hence me reaching out to the community.

Thank you in advance,

Jeffrey Nolte
Moxie Media Group, Inc.