When we are to generate more traffic, it is relevant to realise that a mobile is essentially a computer with a different form factor. As mobiles gain their smarts, it is not so much that they become better looking but more that they gain more attributes from a computer.
The big difference between computers and mobile phones is that computers have an open architecture while mobiles do not. Many of the mobile architectures are based on computer architectures and fortunately displaying text is one of these. As a result, the smarter the phone, the easier it is to send web fonts to a device and get a readable result.
There is proof that we can show Malayalam text on an iPhone. When we implement web fonts technology, not only mobiles will benefit. It will bring a paradigm shift to reading Wikipedia; as long as a device can show Unicode properly, any Wikipedia will be readable.
Does it take a study to understand such benefits? No. Does implementation invalidate the study? Possibly. Is there a reason to wait on implementation of web fonts? Yes, it takes more development. Should this development get the highest priority? Depends on how highly we value bringing knowledge to more people.