>>6A few LN series have already been 'officially' translated into English, I believe. Like the Haruhi Suzumiya series, or Kino's Journey, or Book Girl series...so for some of those Light Novels, you won't be able to find the online translations anymore...instead, I think they are available on Amazon.
For the online translated ones, there are quite a lot out there...you can just pretty much type the name of the light novel, plus 'english translations' into any search engine thing, and get a bunch of results...
A really good site with a lot of light novels is:
http://baka-tsuki.org/project/index.php?title=Main_Page
You can even find mobi, epub, and pdf downloads for them :D
it's pretty rare to find a group with this many projects going on...although there are a lot of groups that just translate a select few LNs. ^_^
(side note: I swear I'm the only person who will ever read the light novels before watching the anime...especially for things like Durarara! and ToraDora and SAO. It's so frustrating sometimes)