iPhone only: Whether you've found yourself in a foreign land or you just need a little help with a foreign-language menu, snap a pic with PicTranslator and let it translate for you on the fly.
As you can see in the demo video, it works about how you'd hope. You just take a picture of the text you want translated, choose the language you want to translate from, and let PicTranslator work its magic. Once you know the (hopefully correct) translation, you can even ask PicTranslator to help you pronounce the foreign-language version.
By default you get one language with the $1 purchase of the app, but you can also purchase other language packs inside the application for roughly $1 each. I tested out the app with a Spanish menu, and the translation was fast and impressively accurate, especially when I narrowed it down to specific items.
PicTranlsator will set you back $1 in the iTunes App Store, works with the iPhone only.