Last year, I was asked to try out the Babylon dictionary and translation services. I always feel a bit guilty when I am invited to review something and then don't like it as much as I had hoped I would.
The dictionary provides quite a bit of information for each word, though only a couple of translations (to Irish and Welsh for each of the words I chose -- not quite the most useful languages). And the translation software didn't work at all from English to Swedish in my experience. It kept offering me translations to a Cyrillic language for some reason. Spanish, Norwegian, and Danish worked somewhat better, especially the Spanish.
In sum, I'd say the dictionary is pretty good for language-learners while the translation software definitely needs improvement.