I used Boost. Its ads were not intrusive (and I despise ads) and the UI was written with a small touchscreen in mind. If not for my distaste for phone keyboards, I'd say it was a better experience than the website on a desktop.
Would it be possible for a mobile browser to have a better experience? I don't know. I value my sanity too much to do web development. But Reddit was absolutely determined to make its mobile site unusable and the official Reddit app had a bad reputation (and I wouldn't give those bastards the satisfaction after being nagged so much to install it), so a 3rd party app was the only reasonable solution.