HOW SPEAKETH THEE

I have become enamored with a publishing company called Penguin Group. They publish paper back books on a wide variety of subjects and are very reasonably priced. I have been on a bit of a reading sabatical lately but usually read a couple dozen or so books a year.

I recently came across an interesting book Wide as the Waters, the story of the Engilsh Bible and the Revolution it Inspired. The English Bible of course being known as the King James Version widely regarded by many as being the only accepted version, among all versions and translations, suitable for reading by any serious student of the Bible and or genuine Christian. I grew up being taught this and attended a local Church that staunchly believed using any other version was nearly akin to heresy. It is not my intention to trivialize the King James - God forbid. However, one has to ask ones' self, at the minumum, two questions:

1. Wasn't the King James Version actually a unification of various 17th century translations existing at the time and as pointed out by the book mentioned? (The answer is YES)
   
2. If in fact the King James is the only true translation, then when missionaries are sent to a foreign non-English speaking people, shouldn't the first order of business be to teach 17th century English? Seeing any translation to their native language would then become something other than the King James?

Does anyone beside me see the obvious contradiction here?