The problem with "thee" and "thou" is that most people think it is merely archaic; it was not until I started really studying the issue that I realized "thee/thou" was singular, and "ye/you" are plural. Others think it is "respectful" address to God or a superior (Darth Vader - "What is thy bidding, my master.")
The modern mind does not conceive of "thee or thou" the way the 1611 translators and their predecessors did. *I* have no problem with the language of the AV, but I would probably prefer a you/you* distinction for the general audience. A quick mention before a sermon would remind the congregation of the asterisk.
Let me also say this is why I like the NKJV; like the translators of the AV, this one seems to be translated in a way it was understandable, but not common. It is not dumbed down, and not so common speech that it will die out and quickly need multiple revisions. An occasional update is fine, but the NKJV seems to have a timelessness in a way the KJV had at its time. Neither is street speech, but both in their times can be understood by the "average Joe."