Google Translate has a beta version up for translating from Traditional Chinese into English and from English into both Traditional and Simplified Chinese. Simplified Chinese is commonly used in Mainland China, Singapore, and Malaysia, while traditional Chinese is most common in Taiwan, Hong Kong, and Macau. Google Translate is surprisingly good for translating from Chinese to English and from English to Chinese.
I have used online translators to respond quickly to e-mails in Spanish, German and Russian when there is no time to have someone in my firm fluent in these languages help in the response. The translations generally are not bad, but certainly not anywhere near 100% accurate. The Russian translations tend to be the worst and that makes sense since it is the least like English. A good way to test an online translator is to input something in your native language and then have it translated into the foreign language and then translate it back to your native language. I did this with Google Beta going from English to Simplified Chinese and then back to English and I was stunned at how well it did.
It is not going to replace human translation, but it looks like it will work in a pinch.
What do you think?