A while back, I did an impromptu survey on Facebook. I presented black and white and color versions of the same portrait, and asked my followers which one they preferred. To my surprise, black and white won! Often, I will generate both black and white and color versions of an image I am working on. Next I am faced with choosing which one I prefer.
Sometimes, I prefer to fudge and do both, as seen here in this composite of Andrelica:
This is the perfect solution for those times when you cannot decide which version is best. In this instance, the image is 90% black and white and 10% color.