Travis Wales addressed the topic of translations:
Class 2 (How to compare Bible Translations) - SermonAudio.com
Class 2 (How to compare Bible Translations) - SermonAudio.com
Literal or Formal Equivalents give word for word renditions.
King James Bible is the most used. The limitation is the archaic language. Many tools are tied to it, but not as useful [for Travis] for just reading.
NKJV is also translated from the same manuscripts without adding modern interpretation in 1980's by 119 scholars.
NASB uses the Alexandrian Text, not the majority text but believed to be an older manuscript translated in 1971 updated in 1995, stays with the flow of the Greek not the English.
ESV also uses the Alexandrian Text.
Amplified Bible also uses Alexandrian Text with word definitions in brackets. This can help clarify more difficult words.
