Using Black and White option

[Dunnyman]

if I'm ripping a divx to DVD, and it's an old movie in black and white, will I get any performance gain by using the black and white option?
I've done a few without it being checked and gotten good, but slow results, and I've had a few weird colors show up on my settop box (but that may be a media issue). Will it prevent any funky colorization problems?
It's getting good, so when can we expect....dare I say it?
1.0?

[major]

The black and white option is meant to avoid color artifacts.
There is no 1.0, the numbering is either 0.1.0 or 1.0.0.