Yeah, thats real genius for you! As a way of improving my Spanish, about this time last year I translated 'Poema Del Canto Jondo' (Poem of Deep song) into English. It was an interesting experience. I've wanted to have a go at 'Romancero Gitano' for some time now, just haven't had the time.
I don't know if you've read any of Lorca's plays, but for me they are better than his poetry (and his poetry is phenomenal)