Although I think the topic of this thread has already been addressed I wanted to add something in case someone stumbled upon it for future reference: The topic of SEO for an international site.
The site mentioned above wanted to rank for Spanish terms and the answers provided recommended buying URLs in different countries so that users of that country know that the site is in their language. For example I am in Spain and see a search result pop up as a dot.com and dot.com/es. It has been shown that the resident will likely favor the site that is more local to them (.com/es) and chances are (let's not forgot about SEO) Google will run a better chance of ranking your content in that country.
Anyhow, all of this I learned here, on SEOmoz: http://www.seomoz.org/blog/international-seo-where-to-host-and-how-to-target-whiteboard-friday
I agree that if you run a translation site you need real translators too, not Google Translate, to capture all of the nuances of language. I'm not sure that our friends in England would know what "for shizzle"means as a example of language and culture.
The above is based on experience too. We run a real estate site in Brazil for investors who want to buy property in the US and we also have a dental forum in the UK and Brazil so that we can capture those markets and to get help ranking there.
