Real time conversation translation

Here is a great new feature from Google Translate for your phone.  It's called Conversation Mode and it lets you use your phone to converse with someone in a different language.

In it's initial incarnation, you talk into the phone in English, and it reads back a translation in Spanish.  The person you are trying to talk to can respond in Spanish and it will read the response back to you in English:

Can you imagine how useful this could be for travelers?  It's only English/Spanish for now, but no doubt other languages will follow.

Very cool.