Some Notes:

The English language has no gender-neutral pronouns. So when the words man, he, him, etc are used, they mean "Generic human being" unless the context specifically says otherwise. Only women get words devoted just to them.

Thou, Thee, and Thine are singular pronouns. You and Your are plural in the 16th Century English the King James Bible was translated into. This actually makes the message clearer than our habit of using "you" as both a singular and a plural.

In many scriptures I have changed the King James (English) spelling to American spelling (labour=labor, for example. I understand those in England still spell it with a u). Also, in some scriptures I have changed the "-eth" to a simple "s." Spelling standards weren't set in English until the mid 1800's, well after the translating of the KJV. So I see no problem with making these simple changes that don't affect the meaning of the scripture but make it easier for our modern mouths and ears to deal with.

Romans 3- God Remains Faithful

1 What advantage then has the Jew? Or what profit is there of circumcision? 

So what good does it do to be of the lineage of Abraham?

2 Much every way: chiefly, because that unto them were committed the oracles of God. 

The Jews were given the scriptures, the very Word of God. This gives them a head start on everyone else understanding God and His will.

3 For what if some did not believe? Shall their unbelief make the faith in God without effect?

Does the Jew's disbelief make the Bible untrue? 

4 God forbid: yea, let God be true, but every man a liar; as it is written, "That thou might be justified in thy sayings, and might overcome when thou are judged." 

Psalms 51:3 "Against thee, thee only, have I sinned, and done this evil in thy sight: that thou might be justified when thou speak, and be clear when thou judge."

The process of translations makes these two come out arranged a bit differently in English (since Psalms was written in Hebrew, 1000 years before Paul wrote Romans in Greek). But the meaning is the same.

5 But if our unrighteous
ness commend the righteousness of God, what shall we say? Is God unrighteous who takes vengeance? (I speak like a man)

Is it unrighteous of God to punish evil doers?

6 God forbid: for then how shall God judge the world? 

Of course not! He's the boss.

7 For if the truth of God has more abounded through my lie unto His glory; why yet am I also judged as a sinner? 

"Why is it wrong for us to sin if our sin shows how righteous God is?"

8 And not rather, (as we be slanderously reported, and as some affirm that we say,) "Let us do evil, that good may come?" whose damnation is just.

"Why not say, 'Why not do evil so God looks even more righteous, so His goodness shines even more?' That's a stupid idea."

There is No One Righteous

9 What then? are we better than they? No, in no wise: for we have before proved both Jews and Gentiles, that they are all under sin; 

Are the gentiles better than the Jews? Nope. Everyone is in slavery to sin no matter their genetics.

10 As it is written, "There is none righteous, no, not one.

11 "There is none that understands, there is none that seeks after God.

12 "They are all gone out of the way, they are together become unprofitable; there is none that does good, no, not one.

13 "Their throat is an open sepulcher; with their tongues they have used deceit; the poison of asps is under their lips:

14 "Whose mouth is full of cursing and bitterness:

15 "Their feet are swift to shed blood:

16 "Destruction and misery are in their ways:

17 "And the way of peace have they not known:

18 "There is no fear of God before their eyes."

Psalms 14:1 {To the chief Musician, A Psalm of David.} The fool has said in his heart, "There is no God." They are corrupt, they have done abominable works, there is none that does good.

19 Now we know that whatever things the law says, it says to them who are under the law: that every mouth may be stopped, and all the world may become guilty before God. 

20 Therefore by the deeds of the law there shall no flesh be justified in His sight: for by the law is the knowledge of sin.

Justified by Faith

21 But now the righteousness of God without the Law is made seen, being witnessed by the Law and the prophets; 

God is righteous no matter what. He doesn't need the Law to do what is right. But the Law shows us how righteous He is.

22 Even the righteousness of God which is by faith of Jesus Christ unto all and upon all them that believe: for there is no difference:  

NIV- This righteousness is given through faith in Jesus Christ to all who believe. There is no difference between Jew and Gentile,

23 For all have sinned, and come short of the glory of God;  

There are no exceptions. We all deserve Hell.

24 Being justified freely by His grace through the redemption that is in Christ Jesus:  

25 Whom God has set forth to be a sacrifice through faith in Jesus blood, to declare His righteousness for the payment of sins that are past, through the forbearance of God;  

God sent Jesus to pay for our sins on the Cross, which shows God to be just because He didn't punish those before Christ who sinned. Christ paid for their sins as will as ours.

26 To declare, I say, at this time His righteousness: that He might be just, and the justifier of him who believes in Jesus. 

God did this, sending Jesus to die in our place, to show His own justice in not executing all evil doers immediately and to bring salvation to any who choose to believe in Jesus.

27 Where is boasting then? It is excluded. By what law? of works? No, but by the law of faith. 

How can anyone brag of their heritage, then? They can't. The only thing to brag about is our faith in God.

28 Therefore we conclude that a man is justified by faith without the deeds of the law.  

It is faith in God and Jesus' sacrifice that saves us, not keep a set of rules and regulations.

29 Is he the God of the Jews only? Is He not also of the Gentiles? Yes, of the Gentiles also: 

God is God of everyone.

30 Seeing it is one God, which shall justify the circumcision by faith, and uncircumcision through faith.

Both the Jews and the Gentiles are made righteous by their faith in God; one through the faith to keep the Law and the other through the faith in following Jesus.

31 Do we then nullify the law through faith? God forbid! Yes, we establish the law.

The change from the Covenant of Law to the Covenant of Grace doesn't erase the Law. It puts it in its proper place; it tells us what sin is so we know we need the Savior of Grace.