If you really think that BLACK and WHITE is a cop-out, then you might want to go and check out the works of Ansel Adams, Eliot Porter, Edward Weston, Robert Mapplethorpe, Diane Arbus and an innumerable host of others. Their works were pretty well all in black and white and I doubt few of us, me included, could afford to purchase one of their originals today.
Black and white photography is stilled considered a very viable art form today as is demonstrated by the existence of magazines such as Black and White and ND Magazine, and a large number of websites and forums, including one here on TPF, devoted exclusively to Black and White imagery.
I would suggest that you might want to widen your horizons by checking out some of the Black and White photography masters, forums and publications on this subject. I know that they have helped me immensely with my photography, even colour photography.
WesternGuy