That is NOT a bad thing.
The RSV is indeed a revision of the American Standard Version of 1901, which in turn is the American edition of the Revised Version of the King James.
The RSV was adapted for Catholic use, hence, the RSV Catholic Edition, which is what Ignatius Press publishes. It uses better scholarship (at the time, 1940s-1966) than the King James. It is fully approved and suitable for Catholic use, and is my preferred version. The Second Catholic Edition of the RSV has full approval for liturgical use as well in the Ordinariates, because of its close relationship with the King James. The King James could never be approved for liturgical use, but the RSV can, and has been.
Between the three options, I would choose the RSV first, then the 2011 NAB then the DR last.
As for the King James not being fit to read, it may not be an approved Catholic Edition, but like it or not, the King James has its exalted place in English literary history, and is hard to beat in terms of sheer beauty and memorability.