Thanks for your response again, @Lithou. This is very insightful to me. Thank you for taking the time to include screenshots as well.
On the breakdown of files
I really like the way your approach is rooted in the traditions of understanding the text. There is plenty I can learn from you, so thank you for sharing.
One advantage of a note containing a chapter rather than the whole book is backlinking. Rather than having the backlinks to Romans cluttered with all connecting, Rom-8 lets you see more specific links to the chapter.
I’d be curious, what is your usage of backlinks in general? Moreover, after having eliminated the “a note per verse” approach, which advantages do you see in having a note per chapter, rather than the whole book in one note?
On Custom CSS
The CSS magic is absolutely incredible, thank you so much for sharing. I immediately copied and pasted this snippet. Embedded verses are readable and look absolutely gorgeous now.
On your previous reply: Just to clarify, within the chapter note the headings would not be visible to have unobstructed reading, correct? I am sure it is not too complicated but would you mind sharing the CSS snippet for that modification?
On importing the Bible
Thank you for sharing the API! It is also good to know that for personal use, the entire text is available for free. I just gotta brush up my understanding of python to pull from the API. That lead me to AppleScript initially.
How did you import the text?
Finally, I am very impressed with the amount of effort you put into studying the Bible, “digging” through it to find and preserve gems. Your vault sounds like a treasure chest. 
A different approach
Thank you for your response as well, @Mike. Thanks for offering a different perspective, I wasn’t aware of Accordance Bible Software and I will certainly have a look at it.
I think the beauty of Obsidian is that it allows for so many different approaches. Directly entering the verses and finding the references sounds like a good workflow to future-proof the notes.
I am just enchanted by the connections of the graph view and backlinking 
Your reminder that it is easy to spend more time constructing a system rather than using it certainly hits home.
Thanks for sharing the TE snippet as well, would it work to reference multiple verses as well?
ZK and Scripture
I am pleasantly surprised by the number of people who actually use Obsidian/a ZK method to study of the Scripture.
My hope would be to continue the discussion in this thread and distil different methods/best practices so that others can benefit from the thoughts and beginners can find a starting point.
I am also very impressed by the interactive IMF Starter Kit. Dreaming for a moment, I’d be excited about an interactive kit that introduces different approaches to studying Scripture within the mechanism of Obsidian. Potentially even different practices and disciplines for (daily) study of Scripture like the one @Lithou mentioned above.