It depends on what purpose. I love the poetic feel of the KJV but much prefer the NKJV for updated language. I understand that it is fairly literal, although I am not a "KJV only" person. I read the NWT of Psalm 23 to my children, and I have to say, no offense intended, we thought it was the funniest things ever written! As a lover of poetry, which the Psalms are, it just didn't have a poetic feel at all. for example "with oil you have greased my head"
Just can't imagine that line in a song...