Research shows the archaisms like "thou", "thee", "ye" and endings in "...th", "....st" etc. WERE NOT COMMON in the day the King James Bible was first published in 1611.
The American Heritage Dictionary says the word "Thou" fell out of usage by 1600.
Another example quoting Wikipedia for the word "thou": "In the 17th century, thou fell into disuse in the standard language.
By the 17th century the word "Ye" no longer was being used, as well as "Thee".
The King James writers found in the original Hebrew and the original Greek that there was a tone of (to quote Wikipedia) "religious solemnity". Any version of the Bible that does not use these type of words loses the BENEFIT of that religious tone that the originals were written in. For example, see the following link: 
http://en.wikipedia.org/wiki/Thou
And, there are many other examples.
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