I shall further indulge my Wittgenstein obsession by quoting his story that when it comes to meaning, we tend to think that we have both the cow and the money to buy it with. We are natural dualists. In fact, we have only the money, with which we can buy a cow.
There are of course different ways of translating poetry: I first read German poetry in the Penguin Book of German Verse, which printed the poems with a plain prose translation below. No problem, as long as you can read German. I like the way that Arc publishes the source and target texts facing each other: you can keep an eye on the poetics, as it were.
Above all, translating poetics involves being a very good reader of the source text and asking all the time what makes it poetry: why did it have to be written like this? I think that really great poems had to be written. The same should apply to their translations.