What evidence does the Church of Jesus Christ of Latter-day Saints offer regarding claims of degradation of Biblical texts?

Based upon answers and comments to this question it appears that the Church of Jesus Christ of Latter-day Saints teaches that the Bible translations in use by all other Christian traditions have suffered some unspecified level of degradation (in accuracy) over time. Thus it was necessary for *an inspired translator, seer and revelator appointed by God to the task of recovering what was lost*. It is claimed that the Joseph Smith Translation (also called the Inspired Translation) corrects many of the errors in the degraded translations of the Bible. There is massive amounts of research (far too much to enumerate) in areas of biblical manuscript scholarship, textual criticism, etc. which stand in defense of the Scripture's accurate preservation and descent to us through time. A simple google search will turn up an almost unreadable volume of material demonstrating the near impossibility of Scriptural corruption such as this from the City Bible Forum . It seems characteristic of religions which proffer an alternative Scripture, such as Islam, to declare that the Bible is esteemed but only insofar as it's discrepancies are corrected by the alternative text. What is the scholarly evidence upon which Church of Jesus Christ bases its claim that the Bible has been degraded and that the truths it once contained need to be recovered?