Brian Russell has an excellent blog post on the principles of translating the Bible into English. He closes his post with these words:
Bottom-line: the best translation is the one that you will actually read regularly with the humble desire to open oneself up to its message so that God can shape and form you.
Which is very similar to my own conclusions in a rather shorter post: here. Anyone who wants to know more about Bible translation should look at the resources on Wayne Leman’s Bible translation page or at the Better Bibles bog.