ealgeone:
The rendering is not an incorrect one, it is only incorrect to Protestant translators. the word Charis is greek for Grace, So the translation by Jerome Hail full of Grace is accurate, it actually is inaccurate only in the sense that it does not go far enough.
http://www.ewtn.com/v/experts/showmessage.asp?number=288189&Pg=&Pgnu=&recnu=to
Mary is considered blessed because of this.
This does not give the meaning however of sinlessness as claimed by the Catholic. Even the catholic encyclopedia online confirms this. Yet the catholic continues to espouse yet another false doctrine regarding Mary.
Joseph and Mary offered the sin offering after Jesus was born to be in accordance with the Law. If she was winless there is no need for the offering.