All scripture is interpreted the same way "literal" however we are never commanded to interpret scripture we are commanded to study and to rightly divide scripture. Interpretation is from one language to another and that is already done in the AV from the TR and other documents.
The study of English scripture is done differently depending on the literature type which consist of Poetry, Proverbs, Parables, Narratives, Epistles and Prophecy.
Once you identify the literature type you go into asking "who, what, when, where, why, which and how" of the scriptures.
When you have completed your your study with the seven questions, you use what you found to bring out an application for every day life situation for yourself.
Then you put it together to form a teaching/preaching.
P.S. If you reinterpret the English scriptures then it becomes a private interpretation.
I think we are saying the same thing; but let me use Psalm 150 as an example
Praise God in his sanctuary:
praise him in the firmament of his power.
2 Praise him for his mighty acts:
praise him according to his excellent greatness.
3 Praise him with the sound of the trumpet:
praise him with the psaltery and harp.
4 Praise him with the timbrel and dance:
praise him with stringed instruments and organs.
5 Praise him upon the loud cymbals:
praise him upon the high sounding cymbals.
6 Let every thing that hath breath praise the Lord.
Praise ye the Lord.
Is this a command to use these instruments and dance during worship?