Someone on youtube posted these as a translation of the german lyrics, I think it's fresh and kool, but still retains the meaning.

(this just the last 1min 30sec of the song, the climax when she rises)

Elphaba:
Search me there in the sky
Where night conqueres the day
As someone said lately: Life is to learn how one can fly!
And when I fly alone, I choose my own goal
You walking the earth have no idea what I feel

I fly above, I am free and weightless
Only I am loyal, free and weightless
I belong to me
And nobody in the Land of Oz
And wherever Wizards may be just as big
Nobody reaches or catches me

Glinda: Are you happy now?!

Residents of Oz: Behold 'at the witch! Start it!

Elphaba: ... catches me!

Residents of Oz: Nobody cries for witches,
A question begins the witch ...

Elphaba: ohhaaaaah!
Residents: ...!

I like them, Frei und Schwerelos in english translation does mean "free and weightless" so I suppose these are accurate translations. What are your guys' thoughts on these revamped lyrics?