I didnt' want to read thru all the posts in here because I've heard it all. Just let me tell you what I know. I have a degree in Bible, and have been a christian for almost 40 years.
First of all....we don't have ANY original copies of the scripture. Some we have found have been closer to the time of Jesus than others. In recent years we have even found some that are closer to the time of writing than we did before, so in my opinon, the newer versions are better because we have clearer scripture to translate from.
Ok, there is a differene between "Translations", and "Paraphrase". A translation is an exact( or as close to possible) of taking something written in one language and putting it in another. A Paraphrase is a book that rewrites the book using their perspective.
There are many translations. I don't think it matters which one you use. You can have an opinion on which you like better, or if one may be more accurate, but I dont' beleive God endorses just one translation.
I use a number of them in my readings and studies. The main 3 are King James VErsion, New American Standard Version, and the New International VErsion.
The king james version is just a version that was translated when we were using the kings english. We dont speak Kings English anymore so the newer translations are easier to read. The NIV, is interpreted into english meaning it uses english words and grammar to express what was written in the original texts. The New American Standard is translated into English but in the original grammar of the first language, i.e greek to english. So in reading it, it is maybe more accurate, word for word, but is not understandable sometimes because the grammar is difficult to understand.
We all have to remember too, that we dont' have the original aramaic and that everything we translate from, is still translating from a translation.
So once again, I think it doesn't matter which "translation" you use. That is personal preference. But a "Paraphrase" is not a translation, just someones personal interpretation of the bible. (i.e. The way)