It still is one of the premier series of texts giving us a window onto another world. Still very useful for history and archaeology (if not authoritative), anthropology and a host of other fields. I think there is much of value in the books of the Ketuvim, which have been formative for much of modern idioms/wisdom.

Do I think it's useful as a moral guide? Not to the exclusion of others, at least. That's kind of a silly point to try and make, imo, given how similarly independently derived moralities across continents/cultures are. I think it is useful and given the cultural resonance it possesses, it has a cachet that can be more powerful than other works to that end.

A poster on another forum once said something to the effect that the Bible was God's way of showing us how to live in cities. I haven't gone into the idea in depth, but their argumentation behind it was very intriguing and somewhat compelling. In a similar vein, it is a wonderful view onto what makes a society, and the changes it goes through as a result of traumatic experiences (the Exile, etc). Taken alone, or together with the Talmud, Midrash, and writings of the Patristic fathers, I think it is probaby the ultimate source material for a study in memetics as we see the idea of monotheism 'struggling' for its place in the world and the development of Christianity.

So no, I definitely don't think the Bible is useless to our modern lives.