Hi, guys. In scandinavia we use subtitles and don't do dubbing. And in the NON-tv world, we do it with burned in subtitles, done in our NLE.
I've made a program for doing this in a couple of seconds. Take the txt file from the translator, and drop into my app, which gives me a xml file. This I import into fcp7 and my subtitles are ready, at timecode with the right plugin (i.e. DH-Subtitle)