Dialog over KJV only

If you haven't been paying attention (tsk tsk!), I've kind of been wrestling with understanding why some people believe that the King James Version is the only Bible. I've been e-mailing back and forth with a guy (who believe KJV is the only Bible) over the issue and keeping you fine folks updated. He sent me a packet of information on why other translations are faulty and a DVD (2 1/2 hours long!) of a lady giving her opinions on the matter. It was all very interesting and I'm appreciative for it. Here's the latest exchange:
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His message to me after I sent him a message telling him I only watched part of the video and didn't agree with everything in it:

Let me know what you disagree with. Sometimes we disagree with things in Life because it was the way we were brought up and taught. As the Word of God says to STUDY.
2Ti 2:15 Study to shew thyself approved unto God, a workman that needeth not to be ashamed, rightly dividing the word of truth.(KJV)
I am glad you find an interest in Bible Translations. I have so much more documentation to Back up the KJV if you need it.
God Bless,
Brother Eric
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My reply:

Hey Eric, sorry it's taken me so long to get back with you.
I disagree with some of the things the lady in the video said such as:
1) I think the Bible Code she spoke of is ludicrous. (she said that by studying the original Hebrew text experts have found names of people and their birth/death dates. She said this may prove that the Bible is the Lamb's Book of Life spoken of in Revelation.)
2) Isaiah 44:5 One shall say, I am the LORD'S; and another shall call himself by the name of Jacob; and another shall subscribe with his hand unto the LORD, and surname himself by the name of Israel. She said that some translations replace the word "subscribe" with tattoo and that this is wrong because subscribe simply means they will raise their hand and say that they are God's. But when I look at the Strong's Hebrew Dictionary, it says "kâthab - A primitive root; to grave; by implication to write (describe, inscribe, prescribe, subscribe). She is supposed to be a Bible expert, but nowhere in the original Hebrew does it say anything about raising a hand but it does say write with his hand.
3) I didn't write down all the specific cases, but she gave examples of how meanings of words and even words themselves where changed in the NIV, but when I looked in my NIV Bible, it used the same word as the KJV
I don't think there is anything wrong with using the King James Version, personally I use it when I want to see how something is differently worded when I do personal study. I'm fine with using the King James, but it's not the primary interpretation I use, I use many (NIV, NLT, MSG).
Through my study of Bible versions (of which you have been incredibly helpful and I offer many thanks), I was seeking to understand why some believe the KJV to be the only Bible. As I said, you've helped me quite a bit to understand this and I fully understand and respect your convictions.
I still wrestle with taking a KJV only approach. Here are my hang-ups:
1) KJV was translated by monks from the original Greek and Hebrew. It was translated by men, in much similarity to the NIV, NLT, etc. being translated by men.
2) I trust the Holy Spirit to interpret and help me understand scripture no matter what version I'm reading. I still feel that I would be limiting the Holy Spirit by saying it can only interpret the KJV Bible, not another translation.
3) My understanding (and I am open to being wrong in this) is that the KJV bible was originally translated in King's English to keep it out of the hands of the common people (as common people didn't speak King's English.) This allowed church leaders to keep scripture from the people, thus controlling the people. As King's English has since passed, many common people still have trouble understanding words such as "thou, forthwith, abject, murrain, mazzaroth, surfeiting, and cote." If an uneducated person were to try to read Job 38 in KJV (and they were not accustomed to listening to the Holy Spirit), they may miss out on the majesty of God when they get hung up on not knowing what a mazzaroth is. But if they were to pick up an NIV Bible, they would see that God is talking about how he made the planets and the constellations.
I guess those are the majors, I'd like to hear your thoughts.
Even though we may disagree on KJV only, we will share Heaven and I look forward to that.
Thank you for your help and I welcome further thoughts and dialog.