In my opinion, a rewording of the Article would likely be unfortunate. First, I do not think that we will be able to get away from "inerrancy" language. That is, I think that there is a strong contingency that will insist on that language. Of that group, there are some very vocal folks who would like to not only utilize that language, but do so in such a way that would move us firmly into the Fundamentalist camp. (A place where we, as a Wesleyan denomination, do not belong.) - From my perspective, H. Orton Wiley (who is popularly credited with the wording of the article) did a fantastic job of utilizing the language of the day in a way that clearly maintained our Wesleyan understanding of Scripture.
Sufficiency of Scripture
As Methodism in the United States was becoming a formal church, John Wesley sent his adaption of the Articles of Religion to serve as doctrinal standards. Article 6 related to the sufficiency of Scripture, and made clear that Scripture contains all that one needs to know for salvation. Scripture is sufficient because it does not need to be supplemented with any other revelation. This affirmation is rooted in the Protestant tradition that precedes Methodism, and it counters the idea that we have to depend on any other source or authority for salvation. Holding this view does not mean that Scripture is our only source of knowledge for everything. We can still learn new things about the world and about the historical situation in which the Bible was written, and this knowledge helps us interpret Scripture. But we can trust that the Bible does not lack anything that we need in order to know and love God.
When talking about Scripture, the Wesleyan focus is salvation. That does not mean that the Bible does not speak about anything else, but it does mean that we understand that salvation (faith issues; relationship with God and others) is the "point," the purpose of Scripture. - "I want to know one thing, the way to heaven - how to land safe on that happy shore. God himself has condescended to teach the way: for this very end he came from heaven. he hath written it down in a book. O give me that book! At any price give me the Book of God!" (John Wesley, Preface to Sermons on Several Occasions.) - "All scripture is inspired by God and is useful for teaching, for reproof, for correction, and for training in righteousness, so that everyone who belongs to God may be proficient, equipped for every good work" (2 Timothy 3:16-17, NRSV).
What a refreshing focus when compared to the typical focus of our sisters and brother in the "Fundamentalist camp." To borrow from Rob Staples essay on "Inerrancy" in his book, Words of Faith, for the Fundamentalist, the basic theological question is What is the source of knowledge (or truth)?. They hold to an "epistemological inerrancy," seeking to establish the truth and reliability of the Bible before they can move on to talk about matters such as salvation. Thus, it must be shown that the Bible is inerrant in the original autographs, that Genesis 1-3 are scientifically literal, that archeology confirms biblical accounts, etc. Only then (that is, once it is established that the Bible is true), can we trust the Bible for salvation, etc.
Wesleyans approach the Scriptures differently, says Staples. The basic theological question for the Wesleyan Christian is What must I do to be saved? Wesleyans hold to a "soteriological inerrancy," because in Wesleyan theology, salvation is truth. The Bible cannot fail to lead us to God and to heaven if we obey its precepts; that is what it means to say it is inerrant.
While our Fundamentalist brothers and sisters in Christ must first prove the truthfulness of Scripture before they can trust its path to salvation, Wesleyan Christians say, "I trusted Christ for salvation, just as the Scriptures say, and God has proven Himself true to His Word. Therefore, I can trust Scripture; I know the Bible is true."
We have sisters and brothers in Christ in the Church of the Nazarene (and other Wesleyan denominations) that urgently want to move us to the Fundamentalist camp and shift our focus. However, Wesleyan Christians are more interested in getting on with the business to which Scripture calls us, viz., pointing people to God through Christ.
The United Methodist Church, in its Articles of Religion, has maintained this emphasis by retaining the Article bequeathed to it from Anglicanism by John Wesley alongside the Article from the former Evangelical United Brethren Church, which, too, focused on the primary issue of salvation.
True to the Wesleyan heritage, the Article of Faith for the Church of the Nazarene, also retains this emphasis. It does so, as I mentioned above, while using "inerrancy" language in a very Wesleyan way. The Article is as follows:
IV. The Holy Scriptures
We believe in the plenary inspiration of the Holy Scriptures, by which we understand the 66 books of the Old and New Testaments, given by divine inspiration, inerrantly revealing the will of God concerning us in all things necessary to our salvation, so that whatever is not contained therein is not to be enjoined as an article of faith.
None of this, by the way, negates our Wesleyan understanding of what has popularly been called the Wesleyan Quadrilateral. We do, indeed, look to reason, tradition and experience, along with Scripture, when expression our doctrines. Those other three are vitally important to us as we faithfully seek to interpret Scripture. But, as for the Bible, itself, we believe in the Sufficiency of Scripture.