So far, my business is about 50/50. I prefer B&W
by far! Color correction is tough on faded. Add in a completely faded or damaged channel and it's a recipe for disaster. I've had a few "color' photos that were so bad, they actually looked closer to B&W and I had to restore as B&W then colorize. The client was happy, but I have found them incredibly tedious to work on - esp. when the photo has a lot of detail.
Jeanie