I noticed in Reuters technology news today that there's a new talking translator app available for iPhone and iPod Touch that translates words and phrases from English to several languages, including Italian, and also from Italian and the other languages to English. You type in the text you want to translate and it quickly translates it to the other language.
Once you've done the translation, it optionally reads the words aloud through the device speaker, in what's apparently a native accent.
You can save translations you make, for easy re-use, and you can e-mail them to others.
It costs a big $2 for each language you want to translate to/from English. I bought the Italian and Swedish versions, and, though I've only played with them a little, they seem easy to use and very good. They're available in the iTunes store. Search for iSpeak.