Check out the new Microsoft Translator - it raises the bar for translating three ways: on the Web, for Office 2007 & 2003, and a unique translation widget for your site. See the links below to get the particular tool you want.
Office Casual: How you can translate better with Microsoft Translator
Update any Office 2007 or Office 2003 product with Microsoft Translator, find instructions for the free download: http://office.microsoft.com/en-us/help/HA103514221033.aspx#6
Microsoft Translator widget: http://www.microsofttranslator.com/Widget/?ref=MSTWidget
To drop text for translation (or a URL) via Bing: http://www.microsofttranslator.com/.
Want to dive deeper? Read the Microsoft Translator blog: http://blogs.msdn.com/translation/default.aspx
