Interpretation?

Again I was talking to some people the other day after our devotion. For part of our devotion we watched one of the Nooma videos by Rob Bell, entitled Dust. These videos are amazing and great and I have enjoyed being exposed to them. Anyways, during part of the discussion they were talking about how different people will 'interpret' the Bible according to their lives. Well I got to thinking about how much I dislike the word 'interpretation'. The reason I do not like to use the word 'interpretation' is because it makes it seem as if the Bible could have many many many different meanings where as it has one meaning and that is one total truth. As I was thinking I decided that the most appropriate word to use in these situations is 'application.' I chose 'application' because the Word of God is truth, but it is applied to peoples lives differently. Therefore, instead of saying that people have different interpretations of the Bible, I feel as if it is better or more appropriate to say that the Word of God is truth but different people have different applications of the Word in their lives. Are you interpreting the Gospel or are you seeking and applying it to your life?