Enter WikiBhasha, formerly known as WikiBABEL, which launches today as both a MediaWiki extension project and a bookmarklet. WikiBhasha takes content from a targeted Wikipedia page and displays a machine translation to a second language side-by-side. Users can edit, add to or delete the translated content, preview their work and then submit it to the second language Wikipedia.
This is an automated tool, so I'm not all that thrilled.I use Google translate on a daily basis, trust me, it's not very good. There have been times where I working from the original Spanish or German was actually faster than letting Google translate for me.