MGVH has an interesting post on the subject of the best English translation.
I like to have a sense of what is going on in the underlying Greek/Hebrew, but whereas more literal may be more helpful for study, a somewhat more dynamic translation is better for reading. For a base text, I want something in the middle. I can also add that inclusive language awareness is important for me. Yes, it can cause all sorts of awkward grammatical gymnastics, and I dislike the switches from singulars to generic plurals, but for a general purpose translation that would be read in church, I think inclusive language is important. (read more)
To my mind, the best thing about this post is its genorosity. The author does not hide his preferences, but he appreciates the value of a wide variety of translations. This is a short piece, but one that people interested in the English Bible should read.