"For the word of God is quick, and powerful, and sharper than any two-edged sword, piercing even to the dividing asunder of soul and spirit, and of the joints and marrow, and is a discerner of the thoughts and intents of the heart." (Heb. 4:12)
I am a MT/TR/KJV only advocate. There is a healthy discussion going on in the Jackhammer blog about this issue. When it comes to "Bible Study" it is important that we study to learn from God's Word, and not to criticize God's Word. In fact in Heb. 4:12 it teaches us that "the Word of God...is a discerner..." The Greek word behind 'discerner' is 'kritikos' from where we get the word 'critical.' The point being: God's Word can and should criticize us, rather than us criticizing God' Word.