So of course Dark Legion on Chogall posted one today. Through the magic of "an Orb of Deception, a dozen Thorium Widgets and 2 gnomish engineers," they have finally broken the linguistic gap between those speaking English and our fishy, gurgling friends. In the words of the great Murloc Chieftain, "Mmuuuuil gurrrlle meerwembo'l gurrugl im'chule weutinl, gurrrlle werlgnuglinl mutermil im'chule mutrrglee meerugrlle." You can even go the other way, too, so if you haven't yet memorized Murloc (the language apparently has the same name as the race), you could put that back in and it would tell you what the Chief said in English.
And I'm not sure about this (very not sure), but I bet we could even use this to figure out what the Murlocs are saying ingame! One question, though: Is "Aggugguauguguugh" spelled with six Us or seven?