AFAIK black_knight is still around... and it's not to smart to bad mouth mods. Anywayz to induldge you:

Fansubbing chain (in general)

Ep Airs
Raw gets captured
Raw gets hunted (most rawhunters would use winny it's japanese I don't have it and don't know where to get it)
Raw gets translated to a script (notepad most translators use a wav file)
Script gets edited (this means take out any errors the translator made and the 'style' gets defined here and kept here (again notepad))
Edited Script gets (scene)timed (notepad / vdub / substation alpha (clone) )
Edited Script gets typeset (notepad again and vdub)

Then there's a quality checking 'loop'
Encode (Vdub combined (usually) with avi synth frame server script)
Quality Check (a vid player and a notepad to write times and errors)
If there are errors Fix them in the Script (again notepad maybe vdubmod depending on the error type)
Repeat till the errors are 0 and then it gets released

That's basically it. As for sites and programs:

I like medusa for loading up SSA scripts and timing them you can find it on the doom9.org forums. (if you are lucky you can find the original SubStation alpha program but it has alot of drawbacks)
VobSub (subresync) you need this to sync op/title/ending and what not. You get this with vobsub on sourceforge.net
VirtualDubMod is from where you encode and watch something before the encode. You can also get an mp3 or wav file from the audio inside the video. This is also on sourceforge.
Text editor like notepad.....