Depends on the subject.
It really depends on the photo. I like black and white for portraits. But nature is most often done better in color.
Some are great in B & W and some in color !
Kodachrome ! They give us those nice bright colours
They give us the greeeeeeeens of Summer's ! I'm just so happy I saw this question because it reminded me of this song !! :) colours it is then :) I have to dance now
As stated from Hippy and Gator it depends. Ansel Adams has some of the most awesome black and white photos of Yosemite National park.
But it could no way capture the beauty of an orchid