I today heard about this free software called Webaroo.
What is Webaroo?
“Webaroo is a free software program and service that lets you search and browse real web pages without a connection. Webaroo's advanced technology makes it simple for you to take the web with you -- and find what you are looking for anywhere, anytime. It's easy -- Webaroo stores searchable web content on your laptop, PDA or smart phone. It's fast -- searches run and pages load instantly at memory speed. It's fresh -- your Webaroo content is updated every time you sync.”

How it works?
“Webaroo has assembled a world-class team of computer scientists and engineers to build its offline web technology. There are two critical components at the core of Webaroo technology: one is a system designed to maximize Content Density™ and the other is our Smart Caching™ technology. Get started today.
”
Links:
Webaroo Home : http://www.webaroo.com/
How It Works : http://www.webaroo.com/rooHowItWorks.html
Webaroo Technology : http://www.webaroo.com/rooTech.html
Webaroo Download : http://www.webaroo.com/rooDownload.html
Webaroo System Requirements : http://www.webaroo.com/roopop_sysreq.html
I don't know the future of Webaroo as the future data networks are becoming faster and robust, but one thing I liked most is the idea of having the web in your pocket.
Web is evolving, so do our thinking and ideas of using it !
Happy surfing ;)