As far as I'm aware, the manga only runs to the end of the SAO arc. The anime is actually based originally on the light novel written by Reki Kawahara (also the author of Accel World). The current arc in the anime is based on the third book in the series, Fairy Dance (the second book is a collection of side stories from SAO, some of which were incorporated into the anime).
Yep. The translations are a little rough, but since I watch a lot of subbed anime, i was able to overlook them. That said, I only read the first novel, and decided to stick with the anime for the rest of the storyline.