In the closing stages of Leweb10, I had one of my most interesting conversations of the event. Its with an Irish start-up founded by a New Zealander and an Australian. These guys are well ahead of others in tackling the cost of translation - and if you see how much the EU spends on translating stuff which is never read, you can see they are on to a winner. David explained in some detail their approach which involves mixing machine translation with human intervention. He shares why crowd-sourcing a translation doesn't work and the challenges they have faced and solved. If you're working on localising a site in Europe, you should take a few minutes of your time to get some great insight. These guys really do know what they're doing. strakertranslations.com/
Update: Tried them out for a translation project in February 2011 and very pleased with the turn around time and the quality of the translation. Incidently, I paid for the translation project, it wasn't a freebie.