No, I'm saying it needs to be read in the context in which it was created, (or "revealed", for the devout Muslims among us).
Do you take Leviticus literally?
The problem with that analogy is that most Christian theologians do not adhere to Leviticus literally. By contrast, most muslim theologians - including the "mainstream" ones - profess an extremely literal adherence to the Koran.
This is no fluke coincidence. Even Ibn Khaldun and Al Ghazali, two widely influential "mainstream" muslim thinkers, expressed a belief in jihad and asserted that only Islamic governments were legitimate. The radicals like Ibn Taymiyya, Muqtada al Sadr, and Said Qutb, of course, go far beyond those already extreme premises. In the greater realm of muslim theological consensus, those who do not take the Koran's mandates for jihad and islamic theocracy literally are in fact a small minority.