I completely disagree. Many really great color photographs lack the kind of lighting that gives soul to a B&W shot. And there are plenty of situations in which a B&W fails to communicate in the way that color can. The two are not the same thing, and not at all interchangeable IMO.
Originally Posted by sun of sand
One major reason that I work in B&W is that it is less literal than color. If I'm photographing a child, I'm looking to say something about childhood in general, or maybe my own childhood, and monochrome is a big part of that. I like images that feel like distant memories.