Choosing a Bible translation

I've been researching English Bible translations because I was looking to purchase another translation.  I wanted to have a second translation to compliment the NIV which is the translation that I have at home.

During this process, I found out that merely going to the store and buying a version is not all there is to it.  There are various considerations that I never knew about: equivalence approach (i.e. word-for-word vs. phrase-for-phrase), lineage used for translation (i.e. previous translations vs Greek manuscripts), Greek transcripts used, gender-neutral language vs. masculine pronouns, and number of translators.

Out of this research, I've selected the NASB, ESV, HCSB, and NET for my final considerations.  The NASB is supposed to be the most literal translation of those options but may have readability issues.  The ESV and HCSB are less literal than the NASB but follow more closely to the word-for-word approach than the NIV.  The NET includes tons of translator notes with alternative translations which would seem to be a great study tool.

Here's the comparison chart that I've been using that shows where each translation appears on a line graph.

http://www.notjustanotherbook.com/biblecomparison.htm

Based on this research, I've come to believe that there is no single answer.  I'm of the impression that using multiple translations is the right approach.

Update:  I ended up selecting the ESV translation.  I found a version from Crossway that formats the scriptures in a single column which should greatly help readability.  It also includes a verse-by-verse line layout that provides for a quicker reference of scripture numbers.
http://www.crossway.org/bibles/esv-verse-by-verse-reference-bible-none-tru/

I plan to use this as my reading Bible and use other translations to help when I need to study certain scriptures in depth.  For that, I'll probably use online resources to reference the NASB and NET translations.