Android's browser does a good job at rendering complex web pages, but it doesn't have Flash support and it's really slow. You can zoom in, zoom out and move inside a web page. Here are some popular web sites rendered by an early version of Android's browser.
Useragent.org:

Gmail:

Google Maps:

NY Times:

Yahoo:

Digg:

YouTube video:

Adobe:

Acid2 Browser Test:

Apple's iPhone site:

iGoogle:

{ Idea by Luka. }