Short Answer: The Authorized King James Version.
The Textus Receptus
Which is the best translation of the Bible? Understand that a translation is still only a translation. Regardless of which version is used those who are serious about Bible study must at times compare the source documents with their preferred translation. Aids such as Strong's Exhaustive Concordance, miscellaneous Bible software from sites like E-Sword.Net and so on are very helpful when it comes to "rightly dividing the Word of Truth" (II Timothy 2:15).
The Bible is the inspired and perfect Word of HaShem in its original autographs, however when we seriously study it we readily discover that NO translation is perfect. This includes the Authorized King James Version. As just one of many possible examples, consider:
Matthew 24:3 And as he sat upon the mount of Olives, the disciples came unto him privately, saying, Tell us, when shall these things be? and what shall be the sign of thy coming, and of the end of the world?
The Greek word aion used here clearly means age, not world no matter how it is explained (it would be the end of their world etc).
Unfortunately, even those who read Hebrew, Greek, and Aramaic do not have the ability to read the Bible as it was originally written because there are no original manuscripts of any biblical books known to exist. Further compounding the problem is the fact that there are several contradictory manuscript sources used in the different translations. There are more existing early manuscripts of the books of the Bible than any other ancient work (which speaks to its antiquity and authority). Nonetheless, not all of these copies agree. The translators of the King James Bible selected the most trusted of all these manuscript copies. This family of manuscripts is known as the Textus Receptus or Received Texts (i.e. the source materials received from the early Church). When we refer to THE Bible is to these source materials and their translation we are are (or should be) referring. These source materials are NOT the ones used by the modern paraphrases. Hence when reading them one is reading "another Gospel," another bible. Most Christians today have fallen for this switch and have exchanged the traditional Christian Bible for a counterfeit!
Those who depend on the New International Version (NIV) and other modern corrupt paraphrases are literally not reading the same book (source material translations) as our Christian predecessors! Our Christian fore-bearers regarded the Textus Receptus source materials (of which the Authorized King James Version is the preeminent translation) as the infallible Word of God. A huge percentage of the modern Church is placing its faith in documents either unknown to or rejected by Christians until modern times! These previously rejected manuscripts were gathered and published by Secular publishing houses through the hands of heretical Atheists such as Westcott and Hort who denied most every aspect of the Christian faith. These deceived Christians are reading a fundamentally different bible! The NIV, the New King James, the The Living Bible, the Contemporary English Version, the New Living Translation, The Message and so on are all Globalist-produced bastardizations drawn from many corrupt and at times specifically rejected source materials. Most are paraphrases of these inferior source materials rather than translations adding to the misdirection. In many many cases these new bibles add or remove words and phrases with absolutely no textual support in order to mislead the largely biblically illiterate Church even further astray from the Truth as Apostle John foretold (Revelation 3:14-19). More disastrously yet, vital doctrines (such as the full atonement and the person of Rex Mundi) are frequently removed or watered down in their pages. These new bibles are fundamentally altering the historic Christian religion, distorting biblical doctrine, promoting globalism and helping to prepare the way for the coming Rex Mundi (Antichrist). This of course is the ultimate intention.
Does it matter which version one uses? Only if one wishes to understand the Bible as revealed by the Holy Spirit of HaShem!
There are those Christians who believe and teach that in a very special way God has preserved His WORD in the King James (or Authorized) Version as no where else. Many "King James only" Christians accept this as established truth. While I agree with this opinion, the King James Version is unique in its inspiration and holiness, I would not go as far as many of these sincere Believers do.
We need some reasoned balance in this debate. Personally I love and use the King James as the standard in biblical excellence. It is not however the flawlessly accurate nor perfectly preserved version of the biblical texts (nor of the Textus Receptus) that many believe it to be. Making such inaccurate extreme claims for the KJV causes some serious students who have discovered some of the scribal errors to back away and consider the inferior versions as potential equals or even as possibly being superior. A translation is still only a translation and the Authorized King James Version is far and away the superior version of the English Bible.
It also needs to be understood that the King James Version used by the vast majority of its adherents (including myself) IS NOT the 1611 KJV as so many claim. The language in the original 1611 KJV is extremely antiquated and difficult to understand. Sincere Believers who praise "the 1611" are almost never reading it! Most have never even seen one. You can HERE. Practically all "KJV Only Christians" today are using versions that date to around the 1769 edition. It is the Textus Receptus that has been preserved, not the 1611 KJV (check the publication info in first few pages). Having said this, the King James Version remains (or should remain) the standard for all serious Bible students and is an excellent translation of the Received Texts. ALL modern versions, including the New King James and the Modern King James versions fail to match it in reliability or in style and the NKJ also relies on these contaminated manuscripts.
For more information on this topic:
Go to my: Do We Need The Bible?
If so, which Version? Here I give several comparisons between the King James version and the NIV to demonstrate that their teachings are not the same.
Go to my: What About the Complete Jewish Bible?
The King James Bible Defended!
Jesus-is-savior.com is a very Conservative Nicene Christian site however their information on this topic is top-notch and not easily found elsewhere.