You sweet, summer child. Dial-up is the original internet connection type. You literally used a phone line (a wired landline / home phone line, not a cellphone) to dial your internet provider and use the phone line to get internet access. It came at the blistering max speed of 56 kbps (modern home connection max speed is about 1 Gbps, about 18000 times faster), and took the phone line being used to access the internet. Since this was before most people had cell phones at all, this meant internet time was usually quite limited (unless you were rich enough to afford multiple phone lines). DSL was the first high speed, always on, internet connection, since it was a Direct Service Line, not using an existing system (or using a better system in the case of cable TV ISPs) to connect to the internet. That's been the standard that's improved in various ways since, until fiber to the home came about (which is effectively just a different type of DSL).
Setting aside the internet speed talk, yes reipatcher starts as a real time translation overlay. How long it takes to translate a text box depends entirely on your connection speed and which translation service it's set to use (default is Google translate, with DeepL the usual alternative setting). DeepL takes longer, but is generally more accurate. But, reipatcher will save all translated texts already seen, which makes them pop up basically instantly when they show up again. If someone uploads their reipatcher translated files, you can use them and it can even be manually edited to a more accurate translation.
But if you just want it translated instantly, you're kinda stuck until the game is hard translated.