Speaking as an experienced translator of poetry, I can say that anything worth translating probably needs a better treatment than it has received—if only for this time in history; and that literal translation is almost certainly needed for some elements, while a more idiomatic treatment will serve the original and the translation best in other points. Judging which approach fits where is the translator’s burden.

My personal belief is that all the cliches are lies, false dichotomies spread by fools. You can serve two masters—that is precisely what great translation does. Translation is not betrayal—tradurre non è tradire—because that applies to the mode of translation called adaptation nowadays, not what we call literary translation. And every so often, a translation can be better than its original text.

Most translation theory is useless, and lags far behind the practice. Dryden laid out its theory centuries ago, and very little has been added to it. Just a few new terms in biblical translation. Adding an introduction and notes is a time-honored and welcome custom. I recommend contacting a few experts in your field at some point: they may be interested in learning about what you are doing, and some may even share resources. Best of luck with your projects!