I have also heard that it will be a long time before we get a new translation of the Liturgy of the Hours.
You can get the LOTH in English or other vernaculars, or in Latin, and I know of one edition with both English and Latin but I believe that one is incomplete.
For the LOTH in Latin you can try
paxbook.com/ , “the exclusive and authorized Internet distributor for publications of the Vatican Publishing House and many other Catholic institutes”. Search under “Liturgia Horarum”. Not all of the volumes are currently available, the ones that are available are on the expensive side, and sorry, I don’t know how much they charge for shipping.
You can also try the
Midwest Theological Forum in this country. They are publishing their own edition of of the LOTH in Latin, but the leather edition is
$900 (!). They have a
regular edition in hardback, but that is still $450. You’ll have to save your pennies for these.
For Latin and English I know of
Lauds and Vespers from St. Augustine’s Press. It has what it says, Lauds (Morning Prayer) and Vespers (Evening Prayer) for the year with the official Latin and an unofficial English translation. Unfortunately it has no Office of Readings which I think you need and I think it’s also missing some other material from the complete LOTH, like the Proper of Saints if I’m not mistaken.
The Paulines in Africa recently published a
new edition in English for Africa and it looks like the price isn’t too bad. Being an African edition there might be a few differences from UK and US editions, like in rank of certain feasts, etc. But it uses the recent revision of the Grail Psalms, so maybe the language might be a little more to your taste, and the price isn’t too shabby: $100 for 4 volumes. That’s cheaper than the US set usually costs, but I don’t know about the shipping or other charges involved.
Also, since you intend to pray with your priest friend, the fact that it’s not the US edition (I’m assuming you’re in the US) might be a problem. Your priest friend would be obligated to use the local edition (as far as I know). Among other things, reciting the psalms together could get awkward sometimes because of the revised psalm translation.
There’s also the
Divine Office, the LOTH in English published by Collins for the UK in 3 volumes. I’ve heard the translation for this is a little better than the US LOTH but if I’m not mistake it uses the same Grail translation for the psalms (someone correct me if I’m wrong). So you and your friend might be together reciting (chanting?) the psalms but you might have problems staying together with the other prayers.
I know others will disagree with me but I like
Universalis and I recommend it to laypeople under no canonical obligation to pray the office. I wouldn’t say the translation is incorrect. It’s simply unofficial and that’s the problem. It’s not suitable for public worship, like Sunday Vespers at the parish church, or for your priest friend to fulfill his obligation. Being a different translation of prayers and scripture you wouldn’t be able to stay together and you might have some difficulty following your priest friend.
So in the end my suggestion, and I say this in the nicest ways possible, is to suck it up and use the LOTH we have. Someday there will be a new translation. In the meantime it’s still the prayer of the Church. It’s the same psalms in Latin or Hebrew or Greek. The richness of wisdom and knowledge is there in the Office of Readings. Just be willing to be open to it.