When I was studying Englsih Lit for my A levels(blimey, that dates me!), I found it very useful to go and see Shakespear plays performed live, taking with me a copy of the play to follow as the actors were speaking. Being able to follow the words and watch the action at the same time, I found it was quite easy after a while to get into the rhythms of the speech and understand quite clearly what was going on and being said in context. I agree that, with the archaic language, it's sometimes hard to follow if you're just reading it, but the language is so beautiful, I think you'll lose the nuances if you only read it in modern translation. there are some very good adaptations of Shakespear plays on video and DVD (mostly BBC). A good place to try and pick up a few cheaply is a charity shop - for some reason they always seem to have loads of them!