DL.TV, a streaming or downloadable video tech show, recently highlighted the SpeechGear Interact. As demonstrated in the video, the user speaks into a microphone and after a short delay hears a translation of their speech. It's OK, but the device seems a little on the large side.
After a little digging, it seems like this tool has been around for a couple of years, so perhaps the developer was at CES to show off advances(?).