We are riding a wave of three new translations of War and Peace (Anthony Briggs for Penguin; Richard Pevear and Larissa Volokhonsky for Knopf; and Andrew Bromfield for Ecco Press) - or rather two and a half, because Bromfield has translated an early draft of the novel. Of the two complete ones, the general opinion seems to be that the Pevear/Volokhonsky is better, but this is not my subject. Publicity and controversy will get people reading the novel, and that's a good thing.
There are translations - especially, but not always, of sacred texts - that become classics in the new language. The King James Bible comes to mind, or philosopher Thomas Hobbes's translation of the Greek historian Thucydides, or Boris Pasternak's translations into Russian of Shakespeare. Usually, though, it's best to think of a good new translation as an interpretation of a book for a few generations. You won't get the whole thrill of War and Peace when you read it in translation, but you still are reading one of the greatest novels ever written. It's long, but Tolstoy does not repeat himself in it, and you will be sorry when it ends. And by the way, don't skip the war parts; they are magnificent and, today, sadly, they are once again very relevant.