I love the NIV, but my principle versions are the ones Anastasia mentioned first, the NASB and the NKJV. Both are considered true "translations", where the NIV is actually a paraphrase (albeit a GREAT one

). The ESV is considered to be the step in between the NIV and the NASB/NKJV and is EXTREMELY popular right now (it finds it base in another true translation, the RSV).
Go to
Biblehub.com and you can read any verse in the Bible in multiple translations on the same page and see which one seems better to you.
It is nice to have more than one translation to look at when you are studying the Bible (the NASB is still considered to be the most accurate, and I always have the KJV around for study as well), but for reading, the NIV is perfectly acceptable in most cases.
MERRY CHRISTMAS!
--David
p.s. - Study Bible-wise, my two favorites are the
MacArthur Study Bible and the
ESV Study Bible because of the excellent and extensive commentary found in both, but the ESV Study Bible only comes with the ESV translation, obviously
*The NIV version I use is the original, published in 1984. The more recent versions of it are more liberal/less accurate unfortunately

(so if you can get your hands on a 1984 translation .. perhaps in the MacArthur Study Bible .. you would be better off).