Back on the old Crosswalk site I saw a very similar discussion to this run dozens and dozens and dozens of pages. When the site finally closed, it was still going strong, generating--as these things do--more heat than light.
I only have have one question to the folks who say "it's the KJV or nothing": how do you reconcile that with the Wykcliffe folks, who translate the Word into various languages? I've seen copies of these, and there are simply some words, phrases, and thoughts which cannot be rendered in say, Maori, or Ukranian, or Inuit.