BW vs Color: The Great Debate

Some friends and I were recently discussing which we preferred better, black and white, or color photography.

That got me thinking:

  • Which do you prefer?
  • What are the advantages of your choice?
  • What are the drawbacks of your choice?
  • Does one or the other make you feel a certain way?

I'd love to hear some of your thoughts.

UPDATE

To make for a more interesting discussion I decided to add a new question.

  • If you could only shoot with one (black and white or color) which would you choose?