Modern Literal Version?? Comments?

Interesting project. Not knowing Greek, I cannot comment on the accuracy of this translation, but the concept of an open source Bible that can be corrected by any Greek scholar (like Wikipedia can be corrected) is intriguing, and it is indeed easy to download a free PDF of the New Testament from the website. http://www.christianlibrary.org/greek-ref/index.htm

As someone who is familiar with the translation process, I can see pros and cons with this approach. Context is certainly important for translation of any kind. Do the translators take context into account in their "literal" translation? My guess is that some do and some do not.

Could anyone here who is truly fluent in biblical Greek comment on the accuracy of this text?