Do 'Bible Christians' find paraphrasing the Bible distasteful? This might be a meta question, but I really mean it in a scholarly way.  Does paraphrasing the Bible for conversational use make Sola Scriptura folks cringe?  

I'm not even sure what my Church thinks about it, other than improperly quoting the New American Bible too much is a copyright violation. But as for Bible Only Christians who believe that the Bible is the inspired word of God and are of the mentality that the Bible is the Mother of the Church rather than the other way around, should I take the extra effort and state what the Bible says correctly, or is it OK to paraphrase or change words around to draw out a particular meaning or just make it more readable or conversational?

For instance, not that there are a lot of Protestants in my Catechism class, but if I were to just say, without a bible open to the chapter and verse, "Jesus says, Love one another as I have loved you".  I've got no idea if that's exactly what Jesus said, but I know he said something like that.  So, if in conversation with a Bible Christian, if I don't have the Bible open, can I say anything to them without pointing out the chapter and verse?
I don't believe there is a problem with paraphrasing the Bible in conversational, or even teaching use.  The important thing is that what is being paraphrased can be verified against the Bible.

A lot of a pastor's message is likely to be paraphrasing or expounding on a Bible verse.  There is nothing wrong with this, as long as it is being verified against the original Bible.

This is why there are so many different translations.  Why are there so many translations of the Bible?  There are a lot of ways to convey a message in English, and some may understand one method versus another better.  Even then, when using 1 or more translations as the verification, these translations can be further verified against the original Hebrew or Greek, such as with an interlinear Bible.

As far as it applies to this site, I think it'd be nice to provide the base scripture for any direct paraphrasing, either directly quoted or just as a link.  This would make it easier for those who are new to the Bible or who would like to read more into what you are saying to access the scripture.  For a comparison, would you ever expect to have a church leader teaching on the Bible without actually being able to reference it directly?