I think the talmudic tradition is particularly powerful given its ancient roots and how it reveals contemporary thinking on ancient texts.
Both major talmudic streams in Judaism agree that for as far back as we can see, Jewish people believed Old Testament texts indicated that fetuses are property rather than people.
I think the question of improper translation is perfectly well addressed by examining what people thought who spoke Biblical Hebrew natively. The oldest of the talmudic scholars we know about certainly possessed native command of Biblical Hebrew. We should believe what they tell us.
I hasten to agree with you that what they thought should have no bearing on 21st century policy, but the fact that they thought it and that it contradicts what most modern Christians say is certainly informative and interesting.