Black and White Photography

Contrary to what might be believed, black and white photography is not a dying art or just a romantic hold over from the past. It has become a style all it's own in this day and age of color imagery.
For many professional photographers, black and white photography is an elegant style and allows for a degree of control that color photography doesn't.

The reasons why many professionals and masters of the craft prefer it are myriad. Some do enjoy it as a classic form, romantic and even special, much like a painter might study the old masters to fully appreciate his or her work. This form of photography is also easier if one wishes to learn how to do dark room development, and some would say that even learning photography is easier if one learns in black and white first.

Classic Air

There is indeed a classic air to a black and white photograph. Without the clutter of color, the subject stands out crystal clear, fully unique and individual, inviting the viewer to enjoy the high class feel of it more fully.
That is why it remains a choice at weddings, preserving the precious moment in a way that will always remind one of it's beauty and specialness.
Corporate executives tend to prefer black and white portrait photos as well, as it lends that regal air without being flashy when placed on a report or brochure.

Canon 1D Mark IIn

One reason why teachers prefer black and white is because it is easier to teach the subtleties of composition, graphics, perspective, shading, etc. when there isn't color that dominate the image. In fact black and white photos are much better at bringing out such contrasts and shading within an image, allowing the viewer to see things in ways different than the naked eye can experience them.

Mystery

Some things also look more intriguing when photographed in black and white. Imagine a majestic cathedral or a solemn graveyard. Black and white brings out an air of mystery, of history.
There are also situations where black and white might even be preferable. Overcast days for example are drab when photographed in color, washed out and gray.
The same pictures taken in black and white are more interesting, since the emphasis is taken away from the gray sky and rest firmly on the subject in the pictures.
Portraits also lend themselves well to black and white photography. Skin tones are more subdued, and things like blemishes, uneven shading or blotches are much less noticeable.

Artists also make great use of black and white photos in capturing the detail of a subject for later sketching and composing their work. As noted above, the shading and sharper contrasts that draw the eye to the details are easier to see than in color photos for people interested in the graphic details.

In short, the reason why black and white photography remains the choice of many masters is because of it's classic air, it's ability to captivate the viewer, and it's ease when it comes to teaching the art. And many think it's a more fun way to tell the photographic story.