There is a wealth of information regarding Isaac Babel available online, a tribute to the power of his stories despite having been "erased" by the Soviet regime for many years. Here is a list of some of the available resources:
Babel's Wikipedia entry
Gregory Freidin, Professor, Director of Interdisciplinary Studies in Humanities at Stanford University, has a detailed site regarding Isaac Babel. The page includes information on the writer, a translation of one of his stories, and links to some of Freidin's articles. An extended biography of Babel by Freidin as well as a lengthy bibliography in pdf form can be found here.
George Saunders comments on Babel at NPR. There is an excerpt from "The Story of My Dovecot" as well. Saunders also reads and discusses Babel's short story “You Must Know Everything” for The New Yorker.
A wealth of links can be found here, courtesy of Dr. R. Kreuzer, St Lawrence University (for more links on Russian literature, see his course page)
Nicholas Jahr's essay The Shattered Faith of Isaac Babel
Tom Teicholz's article "Tough Guys", a review of "The Collected Stories of Isaac Babel"
Update (31 Jan 2012): Notes and an interview with Babel's biographer Grisha Friedin
Update (10 Feb 2012): A look at Babel and his short stories in The Guardian
Update (14 Nov 2012): An article on The Odessa State Literary Museum