The one issue I always ran into in the beta stage a couple months ago is that after say 20 or so page changes the entire application would crash with jQuery Mobile. I'm not sue if it was just because of the large data sets I was working with or what but that is the reason I left it behind. Though it is the very first thing I looked at when working on a past project.
I recall attempting to use it but didn't get to far. I was going to use it to normalize the touch events but I quickly found out that it is very unreliable. That was about six months ago so perhaps it has gotten better with new releases.