The Book of Mormon is a volume of holy scripture comparable to the Bible and is a record of God's dealings with His chosen people in the New World. The main purpose of the Book of Mormon is "to the convincing of Jew and Gentile that JESUS is the CHRIST, the ETERNAL GOD, manifesting himself unto all nations." (Book of Mormon Title Page) It was written by ancient American prophets for our day (Mormon 8:35) and is an American testament of the Lord Jesus Christ.
From the ever erudite Brant Gardner comes this watershed article on the question of the translation process that Joseph Smith used in translating the Book of Mormon. A MUST read!
