Lots of great responses from the Moz community. Thank you. I got pretty concerned about this because we see alot of our organic traffic as coming from mobile. I'm taking this pretty seriously and have already hired a programmer to get the site fully responsive. My deadline for getting it completed is 10-14 days, so I hope that Google gives us some more time to implement changes.
At first I was a bit disheartened, but this is actually pushing me to get changes done that I have been procrastinating on, so maybe it is a good thing.
I just hope that the criteria Google uses for mobile compatibility is fairly loose, so it is obvious what needs to be fixed to be considered mobile friendly.
Best Regards,