Although I have not seen it yet, I am cautiously optimistic about the new Norton Critical Edition of the English Bible (KJV) forthcoming later this year (ISBN 039397507X and 0393927458). Perhaps you are familiar with the Norton Critical Edition series — it is a standard series of annotated volumes used in literature classes. The editors working on these volumes are top-notch, and the blurbs are impressive at least:
Robert Alter: “The Norton Critical Edition of The English Bible, King James Version, appearing on the four hundredth anniversary of the great translation, is a real gift to the English-reading world, making this classical version freshly accessible. The introductions to the different biblical books are apt and often illuminating; the generous annotation clarifies archaic terms, corrects translation errors, and provides insight into the texts; and the appended critical and historical materials give readers a wealth of relevant contexts for both Old and New Testament.”
Harold Bloom: “Herbert Marks demonstrates in this work that he is now the foremost literary exegete of the King James Bible and of the Hebrew Bible that it translates.”
If the work is up to the standard of the better volumes in the Norton Critical Edition series, I expect this will become the standard secular teaching text on the King James Bible, and because of its explanation of archaic terms and phrases, may prove useful for ordinary readers as well.
(I should mention that additional materials and notes included in the Norton Critical Edition of the Writings of St. Paul [ISBN 0393972801] make it the best secular one-volume guide to the subject, although it uses the TNIV translation of the Epistles and Acts and Elliott’s translations [ISBN 0198261810] of the apocryphal works related to Paul.)