Background
First to show that I've done some research, I've read through this:
http://drupal.org/node/266511
And searched the forums for previous entries.
My employer have given me the opportunity to create an online dictionary for the Sami language. My data are a collection of audio files (one file per letter in the Sami alphabet) and a list of all the words read, their word class and translation to Norwegian. I've split those files and created the mappings between the words and the files where the words are read.
Now I need to concentrate on importing these into Drupal. The total number of words in the wordlist is 35 000 entries, give or take, and I will probably be asked to expand the translation to English, Finnish, Swedish and Russian as well.
I've also been playing with Wordnet and read through this: http://groups.drupal.org/node/8516 and http://drupal.org/node/299599 and with the Taxonomy Manager module and the Term Relation Types module the Taxonomy module can be used to create the Wordnet linkings easily.
I also found PHP code to extract info from the wordnet lex files, but I don't know if it only returns the data for one term, or if it can be used to scan the whole system and import it.