QUOTE(WildArms @ Nov 26 2010, 07:53 PM) Well, im spanish native speaker, so i can easily help you
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The sentence you made isnt that bad,
Lo siento muchísimo que este es tarde. Espero que cumpla con el nivel que usted espera.
This is what you said literally in english "Im so sorry im is late. I hope that it meets the level you expect"
So basically the wrong part is the beginning. This is a tricky part, since changing from spanish to english or viceversa literally, will change its sense a lot.
You DO can translate literally Im sorry it is late, a spanish person would understand, but it will sound kinda wrong... it would be "Disculpa porque es tarde", if someone told me that, i would undesrand what he said, but it wouldnt sound right.
If you want to say, im sorry i'm late, say "Perdón por llegar tarde"
"Perdón", can be "Lo siento", or "Disculpa" as well, and you dont have to change anything else by changing these words into that sentence.
What i said in spanish is "Im sorry im arriving late", this one is easier to translate literally.