A literal reading of all Quranic verses cannot be acceptable.
A literal reading of Quranic verses like La ikraha fid Deen (There is no compulsion in religion) or Lakum Deeanakum waleya Deen (For you your religion, for me mine) is a cornerstone of every moderate's philosophy. These are constitutive verses of the Quran and eternal in significance. They are valid for us for all time.
The problem arises with contextual and allegorical verses when they are taken literally or even interpreted according to one's own understanding. The problem arises when so-called militant verses are taken literally, considered valid for all time as exhortations of God to all Muslims forever, and followed as they are today. ISIS leaders may have their own designs, but our children and youth, boys and girls who are running away from our well-appointed homes and private schools are doing so out of a literal reading of these so-called militant aggressive verses and considering them universal in nature. Being uncreated, all Quranic verses are considered and taught in madrasas as having eternal value as guidance for all time to come.
One allegorical verse is being interpreted to mean that Malhama (Armageddon) is only two years away. Daesh (Islamic State) is said to be fighting the end-time battle Malhama. This is also one reason why our youth are running away to engage in the battles end-times, the Malhama.
It is, therefore, felt that merely literal reading of all Quranic verses, without reference to the context of contextual verses, or even personal, contorted interpretations of allegorical verses will be a disaster, is already leading to disaster.
We must treat Quran as a created work by God which contains constitutive, contextual and allegorical verses which have to be treated by us in different times and different contexts differently. Which means that we should observe Quranic advise that we use our rationality and think all the time before accepting anything blindly. A literal reading of all Quranic verses cannot be acceptable.