Do you think that the integration of HTML 5 and the need to redesign old websites for handheld devices will result in a new golden age in web design resulting in a massive uptick in job opportunities? Is the need to redesign for said reasons driving your business model right now?
No, and no, respectively.
Most websites already look reasonable on mobile screens. Unfortunately, menu operation may not work at all, though. As yet, I have experienced no blow-back from this though. Rest assured that all of my menus are now built with this in mind, though, even if I am not building it as a multiple-screen site.
By menu operation, I am referring to drop menus that have non-null links on the trigger. Those don't work well on mobile platforms. Consider a menu with a products trigger having multiple products in the submenu. On a mobile platform you have to tap the products button to see the submenu, but since there is a link there, tapping that button takes you to the page and the submenu closes. Thus, unless that page also has all of those links explicitly listed, you have no way to get to the submenu links....