Let's see what options do you have, if you intend to set up a website with content translation using Drupal. Clearly the i18n module comes into mind, but if you start to look deeper, you will see more approaches tried in the past and in progress, some of which might have very good ideas to carry on. I have actively tested and code reviewed some modules to see what are the options, so we have something to build from, when thinking about i18n support for Drupal 5.0.
To sum it up, all of the modules tested have weaknesses, and there are some striking common approaches (some of which are clearly not desired by some community members). We should discuss some basic approaches, so we can build on them forward. Discussion points will follow in different nodes in the internationalization group.
In case you find any errors or omissions in the comparision table, feel free to point them out.