I don't want to drag this discussion off on a discussion of whether or not the specific theological construction of inerrancy (which I do not embrace) is the best way to affirm the reliability of the scriptures (which I happily affirm), but my main difficulty with inerrancy is that it (in its most popular forms), asserts that if there is a single error in any part of scripture, then all of scripture is in error; therefore it is not God's word, and therefore, all untrue. This point, in my view and experience, is extremely dangerous to biblical faith when a Christian is not involved in a church experience where the gifts and manifestations of the LORD's presence are not experienced as a regular part of life. In the very low level of Christianity that most of us in the Western world experience today, we often have very little experience with the LORD to support us when we struggle with intellectual issues.
Now you can pick apart the popular assertions about inerrancy, and claim that the original manuscripts (which no living human has knowingly seen) are inerrant and that the errors we find in manuscripts are scribal errors, but that is an act of faith with no objective evidence. You can also point out the "science" of textual criticism which is extremely valuable in reconciling the various manuscripts and producing a text which is probably extremely close, if not an almost exact match to the original manuscripts, but there will always be some doubt.
In truth, inerrancy tries to reduce a living faith in the scriptures to a doctrinal creed, using sloppy logic and extrabiblical assumptions. There are historical reasons for this (the rise of modernism) and the intentions were certainly right and proper, but those who responded to attacks on the reliability of scripture against the modernists and the liberalism of the 19th century used the very same faulty tools and modernistic worldview to answer the challenge.
Instead, I think we need to speak of scriptures in terms of reliability and the way they confirm themselves as we experience the life of Jesus in our lives as well memorize and apply its teaching. Some folks will immediately claim that I'm echoing Karl Barth here (and I am to some degree), but that is not inherently wrong even though I have some major differences with Barth.
Anyway, that's more of an answer than you probably want and I don't want to drag this thread off in the wrong direction.