I'm quite fond of the black and white. I made a whole game once, in color, then added what I called a "50s mode" that was basically black and white with a film grain and it looked so much better. :P
I m thinking to choose color but, with a option (50's mode) to switch to black in white mode instantly... it give more control over the game to users and they can also play in mode which they like most... what about this idea ??? :D