The new Translation of the Novus Ordo Missale will go into effect on the first Sunday of Advent 2011. It is certainly a step back in the right direction but it certainly does not go far enough to conform with the Latin texts of the Mass.
For information please see The New Translation of the Roman Missal: A Guide and Explanation
A summary of those changes can be found on these past posts:
Friday, August 20, 2010
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