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I like the B&W, but I love the color. If the sky were darker, the B&W might be more dramatic, but it looks a bit washed out with the bright sky you have. However, in color, the sky really pops with those lovely reserved hues.
The sky is much more interesting in the color image. When you say the conversion's "nearly a tit for tat tonal exchange" do you mean you didn't move the sliders? I'd try lightening the yellow and darkening the blue, and then do some selective darkening on a brightness adjustment layer, but maybe you've been there already...
I'm not sure I understand what you mean by the yellows being troublesome...
Having yellow highlights and blue shadows in your sky makes it incredibly EASY to get exactly the contrast you want using sliders or filters, without any unwanted side effects. That's an ideal situation.
Anyway, I like the B&W a lot better. The colors are all dull and muted and unappealing to my eye. The lightness values are much more interesting IMO, and B&W capitalizes on this.