I'll take the liberty of changing the original question from, "What are my thoughts on how I feel when viewing B&W vs. color" to "What are my thoughts on how I feel when viewing ANY PHOTOGRAPH."
Initially, I do not "think". I "feel" - accept the emotional stimulus afforded by the work - or try to. The way this works - I can honestly say that I do not know. The study of perception in itself and its effect on the human psyche is a fascinating one, and like most studies in the area called Psyche, or Soul, or Being - are nearly - or in fact, absolutely - deviod of any sort of concrete proof.
So far, I have come to the conclusion that color photographs and black and white photographs are different in their effect. I have seen listings of the effects of color - and have read many theories - but, without proof, the WHY remains a mystery - and a delicious one at that.
I LOVE color - as much as I love black and white ... or monochrome, or sculpture or dance - or drama - or comedy ...
Why do I have to know WHY???