(I cannot understand why some of them still call me friend)
Countless messages entered my ears on why all other translations were wrong and the A.V. was the true Word of God. And my bookshelves still contain books and leaflets on this issue.
Things changed, and my mindset is more to do with actually reading the Bible than petty arguments about which one to own. It really isn't that big a deal which translation you have if you are reading it.
Oh and in case you're interested, today i use the ESV.
(here gives more insight to my movement from AV to ESV)
I'd still say that the KJV is a great translation, but i wouldn't say it is the only great one, nor the only we should read.
Personally i'd encourage anyone to read a more 'essentially literal' version (NASB, KJV, ESV) than 'Thought-for-thought' versions or paraphrases. Not because i see the others as having no place but because i truly believe that our main intake of God's Word should be as close a translation as possible to the original languages.
Paraphrases and other translations undoubtedly have their place!
Anyway i came across this chart mapping where each translation lands:
Not everyone will agree on the chart above but it may serve as a good outline of where the translations land. And by no means should it be used to 'write off' some!
We Need Other Resources
Recently i've become more and more convinced of the necessity of such things as good commentaries, interlinears, and lexicons in any serious study of the Bible.
For the majority of us who don't know the original languages nor have understanding of such things as the historical cultures etc, we need these good, reliable resources that will help us get close to the context and original intent of the author, helping us understand and interpret it more accurately for our day.