I see far more 'bad' color work - in books, on the Net, in magazines, et al., where the photographer just seems to have zero sense of how to place color in the composition, how to print it, how to make it look good. So often color photos just look like snapshots from the drugstore, there is no 'there,' there. B&W simplifies the equation, there are fewer distractions and variables to overcome.
If you don't have the right light, color is just ugly. But when a color photo hits all the right places, it can be stunning.
I find that I prefer (for my uses) color to B&W in MF and LF (esp. Polaroid, oh how I love the colors you get from the square integral Polaroid film) as I can attain the kind of color and tone that I want, but 35mm is generally lacking. OT, somewhat, but that's been a big turn-off of digital for me. APS-sized color looks even more odd than 35mm and neither approach the palette of 6x6 for me.