Personally I think that while the JWs try very hard (harder than most) to follow the Bible, the Society does not - after all, if they go a little off course, they can simply rewrite and republish, as they have proven with the NWT itself.
I'm going to a Christian college right now and I must say it has been quite a blessing for certain things I wasn't clear about - like how Christians argue the infallibility of the Bible, its historical accuracy, the existence of Jesus, etc.
There ARE historical, non-Christian accounts about a man that is believed to be Jesus. While none of them specifically call him Jesus Christ (which is understandable considering what this translates in to), they do make specific references to a man who went around with a bunch of disciples preaching and was rumored to raise the dead and later there are references to 1st century Christians beliefs about him rising from the dead (so while we do not have any 1st century Christian texts we can at least confirm their existence and beliefs).
The Bible also has to be taken in to context just like any other ancient culture's texts. We have to take in to account that they did not have the scientific knowledge we do, they probably mixed in at least some myths and lore with their historical facts, the Old Testament itself was an oral tradition for a long time before it was ever written (which made it highly likely to change), etc.
What's so amazing about Judaism, Christianity, and the Bible is that they were the first to point to a single, personally knowable, all powerful god that was above nature and actually loved and exalted humanity. Also the Bible is one of the first attempts in history to record a cohesive history in which present events are explained by taking a look at past events. No other culture was as concerned about its history, most choosing to record current events rather than past ones. None of them considered the past as having such a profound effect on the present.
At its very worst, the Bible is nothing more than a very culturally influenced historical document, not an attempt at fraud.