I doubt that this will be of any interest, but I'll put here my own thoughts on this, anyway.
I think that no matter what formula we might invent, interpretation is entirely the wrong approach. Whichever way one looks at it, it is a human process. The only process that works is understanding, not interpreting.
Understanding the bible is built on precisely the same mystery process as the Trinity 3 in 1, Jesus' all God/all human, the baptismal water, and the Eucaristic Body,blood/bread,wine.
The bible, in itself, is just a book containing a lot of words, like any other book. The written bible, by itself, is not free of errors, nor is it perfect. There are so many translations, so many versions, so many variations, that no one version can be held up as perfect. Equally, language is a living thing that changes with times, and so the literal meaning of the words also drift and need to be updated, and anyone who has translated documents will confirm that it is impossible to translate things perfectly because some words do not have a prefect counterpart in other languages. We need to look beyond the words themselves.
Just like the Sacraments, God's word is in the bible
when it is combined with God himself. It is through
prayer and the Spirit that God brings understanding to us of his Word. I do not mean that he speaks direct into one's ear, but uses many different ways to commúnicate his answers and we recognise them when we hear them if we are still in prayer. That is why constant prayer is such a vitally important "skill" to develop.
In my opinion, things go wrong when we try to analyse the bible technically and/or through mentally copy/pasting from various commentators. We end up with a Frankenstein mish/mash of half-truths cluttering our minds and forcing us to try and juggle them into some kind of rational construction that might possibly remain afloat whenever it is challenged. However, we then find ourselves becoming more and more closed-minded, and spending more and more time trying to defend and justify our own structure that we can no longer alter it whenever the Truth
does come our way. We become prisoners of our own model. For example, I am sure there are some Lutherans on this site that, before posting anything, automatically check it through to make sure they are not conflicting with any standard Lutheran works. Maybe that's OK with Lutheran

) ), but other denominations surely do the same thing.
Another reason why we go wrong and end up interpreting instead of understanding is that we are too eager to know it all. God does not give us the Truth in one dose. We are in school and the lessons progress according to our own abilities and God's will. But we are too impatient for that. Hence, if we don't understand, for example, the 144,000, we grab all the commentaries and debate on the websites and eventually pick an answer that feels good and fits the rest of our model. We do not like to say "I don't know".
Actually, I believe that commentaries, web sites, and reading the early Church Fathers, etc, are all ways that God communicates and opens our understanding, but it must be led by God through prayer and not by rushing off on our own. There are a million different directions that we can be led in when following publications, literature and websites, and we can easily end up running round and round in circles, with no clear cohesive understanding left anymore.
The bible is just a Book. But when it is combined with the power of the Spirit it becomes God Word in a book - Like the water of Baptism, like the bread and wine of Communion, why should we be surprised about that?
But I guess that is not really very helpful!
Keith