While Gerhard Killesreiter is working out solutions for queued .po file imports (to work around the relatively big resource needs we have on an import), and Jose Reyero is working on building translations to actual .po files which people (and automated clients) can download, Konstantin Kaefer was busy with the user interface of the module.
Let me focus now on Konstantin's ongoing work, because it is in need of your feedback. A major update to the translation user interface like this should be done with your feedback heard. So I've studied the new features (and Konstantin's previous video) and made a demonstration video with the up to date functionality.
The new approach introduced treats translations and suggestions more on the same level. So when a string has a translation and outstanding suggestions, you can review them on the same level. The advantage for translators is that they can see previous suggestions and take them into account when composing their suggestion. Duplicates (which are catched by the server) would not take time to write anymore. Also, the active translation and the outstanding suggestions can be viewed in a diff view (when hovering over one of the strings, differences to the others are shown). This helps reviewers to figure out actual changes in relatively long strings. There are also some other niceties with the diff coloring, since it includes marking HTML tags and their closing pairs as well as placeholders. So you can match the placeholders from the English original text to the translation or between the different suggestions. Treating outstanding suggestions and translations on the same level allows you to filter for all of them at once (with the contains and author filters).
The approval workflow also changes with the patch. When you approve a suggestion to be the active translation, you don't need to disapprove all other outstanding suggestions for the same source. You can pick declined suggestions one by one or actually disapprove all other strings by approving the best translation with a double click. After saving your changes on the form, you cannot get back the declined suggestions, but before saving your changes, you can still undo your decisions.
Check out the video here (or as hosted on vimeo) and provide your UI feedback on the issue at http://drupal.org/node/563128