Original poster, if you want I can also link up some trancievers that do bidirectional with individual directional controls/output enables, as the one I gave you can only do one direction at a time.
Well at a higher level the OP says he just needs to interface two serial devices, a bluetooth modem and a serial LCD to his arduino, but that the devices were 3.3vdc and an arduino is 5vdc.
As a 3.3vdc signal can be wired to an arduino input pin without modification and two simple voltage dividers can handle both the arduino 5vdc to 3.3vdc pins used for serial output, I see little reason to spend the costs and board space for voltage translator devices. I run a simple 3.3vdc bluetooth modem at 57,600 baud with no problems using just a divider for the 5v to 3v signal line.
Not saying there is anything wrong with using active voltage translation devices, just that for many applications a simple voltage divider is all that is required. I just suggest that a serial LCD display and a bluetooth modem are two such applications.