Black and White

[Flogger23m]

Can't people simply do that with any decent video editing software?

Why yes you can. You don't need Vegas or Premiere either. I did such an effect in Windows Movie Maker (2005-06). Just desaturate the video, add grain effects, and and the "rippling effect" (don't recall the proper term).

 

[Zetsumei]

I don't know about black and white, but some low saturation effects might be cool. Whatever effects they did for Saving Private Ryan were good. They created the impression of old combat films, without going completly black and white. I think it could do a lot for immersion.

Setting a desaturation slider would have more of a benefit for me than black and white.