The late film critic Roger Ebert has written quite a bit about his love of black and white cinema. He maintained that black and white was more effective at creating "a mysterious dream state, a simpler world of form and gesture." By comparison, he believes that color tends to be too realistic, too distracting, and reduces the actors to inhabitants.
Ebert was a very vocal foe of colorization, claiming that it absolutely ruined what the director and cinematographer were originally aiming for. He also credited filmmakers like Scorcese (Raging Bull), David Lynch (The Elephant Man), Mel Brooks (Young Frankenstein) and Hitchcock (Psycho) who deliberately made black and white films even though color was easily available to them. They did it as an artistic choice.
I do a lot of photography, and occasionally edit some of my work in monochrome. It's a lot harder than editing color. Many more choices need to be made to emphasize what's on the final image, and the statement that it makes.
I'm old enough to be familiar with black and white. Growing up in the 70s, I had a small black and white TV set in my bedroom. And the UHF stations still showed reruns from the B&W era. It's interesting to note that a show like Combat looked better in B&W than it's final season, shot in color on ABC's orders. And there were plenty of old shows, which I discovered later, that I can't imagine would have looked good in color, such as The Untouchables.
I respect B&W as it's own art form. Before color, much work went into making the monochrome image pop on the screen. And many old movies would look terrible colorized. Citizen Kane? Casablanca? Psycho? It's A Wonderful Life? Like scrawling graffiti on a Van Gogh.
I obviously meant toward the anti-colorization camp. Perhaps not as much toward quickie 60s sitcoms. And I'll admit that colorization looks way better than when Ted Turner was doing it in the 80s. But I'd rather watch it the original way. Same especially goes for cartoons. The old B&W Popeye shorts were my favorites as a kid, crude sound effects and all. They were brilliant!