Psalm 68:20 Sovereign Lord
הָאֵל לָנוּ, אֵל לְמוֹשָׁעוֹת:
וְלֵיהוִה אֲדֹנָי--לַמָּוֶת, תֹּצָאוֹת
God is unto us a God of deliverances;
and unto GOD the Lord belong the issues of death.
- יהוִה אֲדֹנָי
του κυριου κυριου LXX
Domini, Domini Vulgate
of the Lord, of the Lord DR
Lord God Geneva
GOD the Lord JPS, KJV, RSV, NRSV, ESV
Lord GOD HCSB
Yahweh, My Lord Rotherham
the Lord, Our Lord Good News Bible
Sovereign LORD NLT, (T)NIV
The LORD Master Alter
Since יהוִה YHWH was usually pronounced as Adonai in Hebrew, this sequence יהוִה אֲדֹנָי YHWH Adonai poses a problem. It looks as if it should be pronounced Adonai, Adonai, and the LXX translation suggests that it might have been. However, יהוִה was usually pointed with the vowel marks for Elohim in this phrase, and so it was likely pronounced Adonai Elohim, "Lord God." In short, YHWH was read in Hebrew as Adonai, "Lord," but if the previous word was already Adonai, then it was read as Elohim, giving the translation "Lord God" in the KJV and "Sovereign Lord" in the (T)NIV.
This rather curious feature of translation argues against concordance or formal equivalence as integral to communicating essential religious knowledge about God across languages. However, it is only through having access to formal equivalent translation in the first place that one can become aware of these irregularities in translation, if one does not read the text in the original languages. My sense is that a formal equivalent translation does not have great spiritual significance, but it does affect one's intellectual understanding of the scriptures.
There is, however, a certain aspect of the text that is fixed in translating YHWH. Whether LORD or GOD, YHWH is marked in the text by the use of capital (or small capital) letters. The name of YHWH is communicated to us in an unambiguous way through a visual or non phonetic feature of the text.