Short answer: How you view the Bible is not the determining factor in your salvation. One can also certainly belong to a Christian church or denomination and deny inerrancy. However how you view the Bibles truth claims will in large part shape your own personal faith.
The vast majority of those who espouse this view specifically state that the inerrant nature of the scriptures only apply to original documents. In regard to translations they are only inerrant to the extent to which they faithfully reproduce the original document.
I would however say-- and this is just my opinion-- that the decision to claim Christianity as your personal faith while denying the full truthfulness of its sole sacred text is a shaky foundation.
I think the key to understanding this question is to fully understand how the people who believe in an inerrant Bible define that belief. We are operating in a culture that is moving from modern views of language which emphasize concrete and defined meanings for words to a post-modern view that allows for the re-defining of terms and an acceptance that the same words can represent different things depending on individual perception.
With that long preface out of the way, here is what those who espouse the view of inerrancy say:
“We affirm that inspiration, strictly speaking, applies only to the
authographic text of Scripture, which in the providence of God can be
ascertained from available manuscripts with great accuracy. We further
affirm that copies and translations of Scripture are the Word of God
to the extent that they faithfully represent the original.
We deny that any essential element of the Christian faith is affected
by the absence of the autographs. We further deny that this absence
renders the assertion of Biblical inerrancy invalid or irrelevant.”
This statement is taken from the Chicago Statement on Biblical Inerrancy (background and participants) which is held by many Evangelicals as the most comprehensive view of Evangelical doctrine on this topic. This is only an excerpt, this is only one of 19 articles regarding this topic.
When someone says they believe in biblical inerrancy the odds are great that they hold to this view.