Word lens is an app for iPhone which is meant to translate words immediately as you scan your iPhone over the problematic word or words. The app uses the iPhone’s camera to read the word, and while the app itself is free, the translation features at the moment only include Spanish to English and vice versa, and each translated set will cost you $4.99.
The app comes with a demo to show you how it works. The demo takes English words, and immediately reverses them, accurately and fast. The translation mode however is equally fast, but its accuracy was hard to measure because of the tendency of the app to jump between possible translations of the words as it struggled to read the text.