Are you searching for English translations of Sanskrit Classics – including the Mahabharata and Ramayana – then you should visit Clay Sanskrit Library project website. The project aims to publish readable and reliable translations of Sanskrit classics with scholarly introductions and annotations keeping in mind the needs of a common man. The translated classics are not free of cost but you get to read excerpts for free; and if interested, you can buy it online from the Clay Sanskrit Library.
Clay Sanskrit Library is a combined project of the JJC Foundation, established by Sanskrit scholar and businessman John Clay, and New York University Press (NYU Press). Leading scholars in Sanskrit from 10 countries are part of the project, which was started in 2005. The project plans to complete 50 volumes by 2009.
Apart from the Mahabharata and Ramayana, the project covers works of drama, poetry, satire and novels in Sanskrit. Each book contains the original Sanskrit text in transliterated Roman letters on the left-hand page with its English translation on the facing page.
You can find more details about the project at the official website of Clay Sanskrit Library.