The Bible is worth reading simply because of the enormous impact of Abrahamic religion on Western Civilization, but even when you look at the Bible's stories as metaphor and allegory, I would say it's a pretty weak book to get much out of. Even considering it as allegory, you can't really get around all the endorsement of brutality, violence, barbarianism, and genocide found in the pages. But there are some other parts that could be worthwhile.
In my personal opinion, the best biblical allegory isn't in the Bible. It's in art/film/theater/literature that eludes to sections of the Bible. One example that scene at the end of the graduate in the church where his shirt rips and hangs like the famous depiction of Jesus' garb, and he fights off the crowd by swinging a wooden cross at them. Even in video games, there's some good stuff. Look at Metal Gear Solid 4, the scene at the end of the game where you gonna drag yourself through the microwave hallway to save the world from nuclear catastrophe...it's an amazing allegoric representation of Christ carrying the cross.