First of all, you cannot really call this the "MLV Bible," as it only covers the New Testament. This deprives you of having an OT given to you in the same translational context, which is a big deal. Now to compare this to the changes we typically find in other modern translations as far as the New Testament is concerned. I checked and It does have quite a number of changed compared to the Authorized version. I will lay these differences out for you so you can see for yourself. Sometimes I'll place them side by side, sometimes it's quicker to just explain the word change.
>Luke 21:19
Here MLV says "procure" instead of "possess" changing the meaning
>Acts 20:21
The word "Christ" is removed from the MLV. It is found still in the KJV.
>Romans 1:28
The term "reprobate mind" is replaced with the ambiguous term "unapproved mind" in the MLV
>Romans 10:17
<AV: So then faith cometh by hearing, and hearing by the word of God.
<MLV: Consequently, the faith comes from our report but our report comes through the declaration of God.
>Romans 13:9
The MLV (along with modern versions) completely removes the part of this verse that says "thou shalt not bear false witness"
>2 Corinthians 2:17
<AV: For we are not as many, which corrupt the word of God:
<MLV: For* we are not as the rest who are peddling the word of God,
>Colossians 1:14
The MLV completely removes the term "through his blood" from this verse
>Hebrews 11:6
The MLV simply leaves out the word "diligently" here
>1 John 2:23b
The second half of this verse is removed
>1 John 5:7
The majority of this verse is removed
>Revelation 1:11
The part where Jesus says "I am Alpha and Omega, the first and the last" is removed. The MLV cuts out this first part of what Jesus says in Revelation 1:11.
>Revelation 8:13
The MLV changes the word "angel" to "eagle" here.
>Revelation 21:24
<AV: And the nations of them which are saved shall walk in the light of it:
<MLV: And the nations will be walking in its light
I should also mention some further things that were noticed. Despite claiming a majority text basis, this translation still includes Acts 8:37, whereas a pure majority text would remove this (very important) verse as well. In my quick review I also noticed that their translation of some other verses is questionable. Compare:
>Colossians 2:9
AV: For in him dwelleth all the fulness of the Godhead bodily.
MLV: because all the fullness of the Deity is dwelling in him bodily.
>1 Timothy 6:10
AV: For the love of money is the root of all evil:
MLV: For* the love of money is a root of all kinds of evils;
>Hebrews 2:16
AV: For verily he took not on him the nature of angels; but he took on him the seed of Abraham.
MLV: For* surely he does not help messengers, but he is helping the seed of Abraham.
>Revelation 2:9
AV: I know thy works, and tribulation, and poverty, (but thou art rich) and I know the blasphemy of them which say they are Jews, and are not, but are the synagogue of Satan.
MLV: I know your works, your affliction and your poverty (but you are rich) and the blasphemy from those who are saying about themselves, they are Jews and they are not, but are a synagogue of the Adversary.