I've been thinking about this post a while... here, really quickly, are my favorite 4 story Bibles for kids. You can see them all in my aStore & buy them there through Amazon. All purchases made through the aStore go to benefit this site! :)
First, for ages 2-5, The Big Picture Story Bible (Book with CD).
It has a wonderful overview of Scripture's story of God as the King over His people in His place. Creation, Fall, Redemption & the ultimate Re-Creation all fit perfectly in here. I learned much about how the imagery of the Garden is woven throughout Scripture-- from Eden to the Temple to the New Heaven & the New Earth. Simple, straightforward text and very intentional imagery make this so easy for little ones to grasp. The images for the Savior are expertly highlighted and interwoven from Fall to Re-Creation. The accompanying CD (read by the author) is great; engaging & simple-- it's what we use for Eowyn's "Bible Time."
Next up, for ages 3-6, The Beginner's Bible. This is an oldie & a goodie. While it doesn't have the wonderful over-arching emphasis of a unifying Gospel story, neither does it have the moralism of some kid Bibles. It just tells the stories, tells many of them, and illustrates them well. Holds E's interest at her literal age of 4.
Thirdly, for ages 4-9ish, The Jesus Storybook Bible: Every Story Whispers His Name by Sally Lloyd-Jones. This book is more poetic and has longer chapters, which makes it harder for little ones to follow. However, I think the poetry adds to the book instead of detracting from it. Kids need both poetry & prose to nurture their imaginations! The overaching theme is Jesus-- how He supersedes & fulfills every single story character. Love it. Doesn't hurt that there are tones of Tolkien & Lewis throughout. :) Lloyd-Jones was greatly impacted by Tim Keller's preaching and it is evident.
Lastly, The Gospel Story Bible: Discovering Jesus in the Old and New Testaments just came out, and I'd aim it at 5s & up. The stories are short, making this a great before-bed read-aloud, and could easily be a supplement to readings from the actual Bible. My one complaint is that the people are left uncolored, presumably so children can imagine any skin tone they want. But with the rest of the illustrations in full color, it just makes them look like ghosts. :) Oh well.
Check out my aStore to see Scripture CD recommendations too! What are your favorite story Bibles & Bible-teaching tools with your children?