In principle, I don't have any problem with new English translations of the Bible. What I do have problems with is the crass marketing that often goes along with new translations, versions, or every time the Bible is re-packaged. It seems like there is an edition of the Bible for every imaginable age group, occupation, gender, ad nauseum.
Having said that, another "translation" of the Bible has been released, called "The Voice." It's not really a translation. It's actually a very (and I do mean "very") loose paraphrase.
Click here to read a brief post about "The Voice" by Pastor Palm on his Palm Sundays blog.
Click here to read a longer analysis by Chris Rosebrough at Extreme Theology.