@oristarA,
Some say Elizabethan English is beautiful and that may be a matter of personal taste. The main reason why the King James Bible is still widely used by most biblical scholars is because so many reference and study books have been written around the KJV text that it is easier to trace the usages and common occurrences of the words. Lexicons, concordances (with exhaustive and analytical numbering systems), interlinear books, companion Bible texts etc... Thus it is easier to follow a certain Elizabethan word back to its original Greek, Aramaic or Hebrew counterparts and also to cross reference where the Greek, Aramaic or Hebrew word was used before and in what context. The other translations simply have not caught up to the KJV in this regard yet... Once you reshuffle the words into a new translation the numerous KJV reference books become useless.