Seeing black and white photography in old magazines and photography magazines is a magical experience. It seems to capture any moment more realistically than a color photo does. Of course light sensitive film has been far more expressive than digital, but the technology is catching up.
with B/W photography you can learn about value, lighting, contrast, composition, texture and mood without the distractions of color. If you master this with your camera, your color photos will come out much better framed and composed. You will do less adjusting in a photoshop program.
Taking pictures in B/W is a great way to learn how to tell a story with your shots. All the details are crystal clear and the moments are frozen in time like fossils in amber. Whether action shots or posed portrait shots, B/W photography will capture all the drama and structure that the naked eye can't see.
Its worth learning to master this aspect of photography.