Dr. Maurice Robinson said:
11. What is your viewpoint on the reliability of the KJV/NKJV versions?
Text-critically, the KJV and NKJV are translated from a text commonly termed TR (Textus Receptus, or Received Text), with a smattering of readings from the Latin Vulgate, various retranslations from Latin sources, or editorial conjectures. All other nt translations tend to reflect a general Alexandrian type of text. In both cases, I have reservations, since neither agrees totally with the Byzantine tradition.
Yet the NKJV includes footnotes regarding significant variant readings, and clearly indicates whether a variant reading is found in the Nestle-ubs predominantly Alexandrian tradition (“NU-text”) or the Byzantine tradition (the “M-text”, being the Hodges-Farstad “majority” text). Footnotes in most English translations lack texttype-specific identification, leaving their readers in the dark regarding the textual nature of any variant. In this sense, there is a real benefit in the NKJV footnotes, unmatched in any other English translation. I would prefer to see a good, formal-equivalence English translation based on the Byzantine Textform, with footnotes indicating translatable variants from the alternative traditions.
Should one inquire about the translational quality of the KJV or NKJV, that is a separate matter. I strongly prefer formal equivalence; the KJV and NKJV qualify in that regard. However, I do not use the KJV for teaching or study purposes due to its archaic language and an inconsistency in rendering Greek words and phrases, particularly in parallel passages. The NKJV is superior in this regard, but remains inconsistent in rendering some words and phrases. Both translations are generally accurate and reliable: they will not mislead a reader in doctrinal matters. Other modern formal equivalence translations (ESV, NASV) are superior in translational quality, and would be strongly recommended had they been based on a Byzantine text or had they identified a sufficient number of Byzantine variants in their footnotes.