First, a plug for James White's debate with Bart Ehrman:
This is an excellent debate (easy for me to say since it's the only debate on this topic I've ever watched, and I liked it, so my approval is a given).
I do believe in Biblical inerrancy, after struggling for a couple of months with this issue. I just do not accept certain passages are truly genuine and canonical (such as the pericope on adultery in John 7:53-8:11, the last twelve verses of Mark in 16:9-20, and the Johannine Comma in 1 John 5:7). Though I grew up with the KJV, and still tend to prefer it by habit if nothing else, my favorite translations now would focus on the ESV, NASB, and NRSV probably (I like the NKJV too, to a lesser extent).
This is just a personal observation; it's not a statement of personal inerrancy (I could be wrong, and I admit it). So, if you disagree with me, please don't write me off as without hope.