I remember well over a decade ago being told by a group of people that a particular translation was the only faithful Catholic Bible I could trust. This caused me to look upon others translations with great suspicion, even to the point that if someone came to a bible study with one of those "other translations", I'd question whether or not that person was serious about studying the Bible. While I know I have changed dramatically over these past 10-15 years, I am not certain that things are much different today in the Church.
So I throw that question out to you. I also have been thinking about this in connection to the whole One Bible, One Year challenge.