Here are some very high quality posts and definitions of the topic of mobile web site conversion:

Separate mobile site vs. responsive design May 2012

A separate mobile website: no forking way May 2012

Why We Shouldn’t Make Separate Mobile Websites April 2012

Strategy Reboot: Time To Stop Building Mobile Websites, Forbes Oct 2012

Some Definitions

Native App vs. Mobile Web App: A Quick Comparison July 2012