MOSS 2007 localization?

[Rockie]

Hi! I have MOSS 2007, and I'd like to make it localizable.

Some toolbox control with "English"/"other language", like on many
ASP.NET sites. As I understand, in ASP.NET it is possible via master
pages technology.

As I understand, I can use language packs and "Variations" in MOSS
menu.
http://office.microsoft.com/en-us/sharepoint-server-help/about-source-variations-HA010121299.aspx?CTT=3

But what will I get in result - will I have two different pages, where
I can put content in different languages, or it will be only system
messages localized(by example "Site actions", "Create", etc.)?

Do You have some links where I can see localized sharepoint sites in
the web?

Best regards,
Gennady.