Without stating my personal views on the bible itself, what I can say concerning this has much to do with one's perspective on how they look at the bible. In the beginning of the WT, Russell made one fatal flaw, that the mainstream religions have managed to stay away from. That is, he attempted to try to make sense of the bible. There are indeed contradictions. Russell tried to reconcile these, and in the process, probably got some things right, even if for the wrong reasons.
An example of this would be what is says in John 1:1. The WT's argument on this has always been weak. No good scholar agrees with them on this, but why? There is a very simple reason, but it is a double edged sword for the wt. The earliest manuscrpits DON'T CONTAIN THIS VERSE. Or the 17 that follow it! They were added by a scribe at some point later in time, who guess what? Actually believed Jesus to be god! The fact of the matter is, the trinity became church doctrine, only because that is what most Christians believed at the time. The wt will never support the real reason the trinity is false. It would mean having to accept that somehow, the bible is not inspired. Can't have that.
This is precisely why most of the churches don't put too much stock in the bible. They are all too well aware of the pitfalls here.
j