The apostle Paul stated at 2 Timothy 3:16: “All Scripture is inspired of God.” The phrase “inspired of God” translates the compound Greek word theo’pneustos, meaning, literally, “God-breathed” or “breathed by God.” This is the only occurrence of this Greek term in the Scriptures. …
Absolute inerrancy is therefore to be attributed to the written Word of God. This is true of the original writings, none of which are known to exist today. The copies of those original writings and the translations made in many languages cannot lay claim to absolute accuracy. …
In a number of cases the writers of the Christian Greek Scriptures evidently made use of the Greek Septuagint translation when quoting from the Hebrew Scriptures. At times the rendering of the Septuagint, as quoted by them, differs somewhat from the reading of the Hebrew Scriptures as now known (most translations today being based on the Hebrew Masoretic text dating back to about the tenth century C.E.). …
In a few cases the quotations made by Paul and others differ from both the Hebrew and Greek texts as found in available manuscripts. …
Showing his full faith in the inerrancy of the Sacred Writings, Jesus said [Joh 10:34, 35; Mt 5:18; 22:29 - 32 ; Mr 12:24; Mt 26:54; Mr 14:27, 49 cited]. These statements, of course, apply to the pre-Christian Hebrew Scriptures.
(The above statements come from: Insight on the Scriptures, Volume 2, pages 1202ff, article “Inspiration”)==========
To cope with the concept that only the original writings were "inspired" but that copies and translations are not, Christian theologians have invented the word "inscripturation":
"Thus, theologians have always said that [“inscripturation”] is an action of God (described in II Peter 1:21) which He carried out only in the giving of the original autographs, and it applies neither to copies or translations. This is what Christians have always believed. The Bible says nothing of any “re-inspiration”, a second direct act by God of immediate inspiration, in copies or translations. … A copy, unlike the inscripturated original, can contain errors. … II Peter 1:21 tells us that the Holy Spirit moved holy men to write the Scriptures. It says nothing about copies." (http://mindrenewers.com/2011/11/11/given-by-inspiration-theopneustos-context-revisited/ ).
I cover the subject in my Study at: http://www.jwstudies.com/God-breathed_Scriptures.pdf
Doug