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I have no belief in the cultural capital thing about classic translations, ....  it was true in Pope's day perhaps ....  except in the sense that any large and dedicated project accrues cultural capital. At  least, it earns my respect!

Many are the successful translators whose own poetry lies unread. Michael Alexander, David McDuff... we don't even think of them as poets, really. Their words get read, but it's the Beowulf-author or Edith Södergran that we readers are thinking about. 

I think people mostly translate for love, because it's a conversation with the other poet, or because it's a way to realize and release their own creativity.