The SharePoint 2010 multilingual user interface only translates the "chrome" and even then not all of it. If you want list content to be translated, your best bet is to install IceFire's
PointFire product. If what you want to display is only one list on one page, you could always try to add a language field in your list, add the content to the list in the different languages you want, and filter the list by language.