Trolltech has released a preview version of Qt Linguist - an application translation system under the open source BSD license.
"Qt Linguist, localization tool, allows users to seamlessly convert Qt-based programs from one language to another, simply and intelligently. Qt Linguist helps with the translation of all visible text in a program, to and from any language supported by Unicode and the target platforms. A key feature in Qt Linguist is a specialized editing tool, with many features to help the translators be more productive and get better results."
Read More