The lack of vowel points isn't much of a problem when it comes to translation. It's only a problem when you're trying to figure out the pronunciation. Some words are indeed similar when you factor out the nikkud, such as the difference between "walk" and "walking" (halakh vs. holeykh, both being "hlk" without the vowels), but the context usually sorts it all out. In fact, Hebrew language today doesn't usually use vowel points anyway; it's usually seen only in grammar books, children's books, and the Bible.
Note: I don't know Hebrew, so don't take my word for it. It just so happens that I was studying this topic a few weeks ago.