There is often a real paradox in the use of commentaries in Bible study. As a theological student, I was trained (whether consciously or unconsciously by my teachers) to seek out and use the very latest commentaries on whichever book of the Bible I was currently studying or teaching. Those works would have the latest information on language, archaeology, and the state of scholarship, and would also distill the best of earlier studies. So I diligently spent my scarce student dollars only on recent commentaries.
As I have continued to study, I found many of newest works lacking in one area. While they did indeed bring me up-to-date on historical and linguistic developments, they often were seriously deficient in theological reflection. Many respected commentary series (including those which I use) spend the bulk of their space on issues of textual reconstruction; their focus is determining how the text we have was composed. This can be an interesting study, but often simply is speculation that doesn't really add much to understanding what God is saying to us through His Word.
After my father retired, he gave me his pastoral library. I became acquainted with some of the older commentators. Not all of them were what would be called scholarly, but many of them contained keen insights I found missing in the more current writers. (There were also some pretty wild stretches, but that's why we study and sift.) I later subscribed to the release of the Ancient Christian Commentary on Scripture, which made it easier to find what the church fathers said on passages I was studying.
When studying online, this issue can be magnified. A lot of online resources are older works which are in public domain, and if you believe only the latest works are of value you'll avoid online study resources. However, many of these older resources are valuable in their own right. There are, of course, the classic materials like the works of the church fathers or Calvin's commentaries, which are still recognized for their value. Many other older sources are available online, and I would encourage anyone to examine these to see if they are useful for your study.
It takes some careful analysis, but as scholars, even erstwhile ones, we shouldn't be afraid of a little work. I go to several online sites and look at a wide variety of sources, and can often find useful insights into Scripture. (I have links here on my blog page, and a few more over on the wikispace version.) I've created a very useful online Bible study suite that enables me to do quite a bit of my teaching and sermon prep on my netbook, all using free sites. I supplement that study with current material from my library (which I only wish was free!), which gives me a very well-rounded study experience.
The Internet makes it possible for even those under budget constraints to engage in serious Bible study with quality materials. With multiple translations, commentaries, and other study aids available for free, you can take advantage of the wisdom of generations of Christian teachers to enhance your own learning and to pass on to those whom you teach.
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