I don't have anything against B&W shots, however, I have never really felt they work with flower shots. Flower shots, in the main are about colour and formation and without the colour IMHO they lose most of their impact.
There are rare exceptions, of course.
I too prefer the color shot. But, if you're really wanting the B&W have you tried doing a desat? Somewhere between -60 & -50 gives just a hint of color for the yellow, but kills the color in the outer flower.
You know the thing to do is post only the photo YOU like. You will always get varying opinions. Some people plain don't like BW flora images of any kind, preferring colour. When I first tried this I liked the soft, almost decontrasted, appearance of the BW treatment. But the colour images show qualities the BW simply does not convey, including a colour contrast which only appears as grey tones, almost undifferentiated in the BW image. So each image should be treated individually. But the converse is true also, a high contrast foliage image is not likely to look good in colour. I opt for the colour version because of the reasons just stated.
OK, I prefer black and white, but the ideal shot (IMHO) is between the two you have - the whites of #2 with the blacks of #3. The textures and detail come to attention in the b&w, whereas they're less prominent due to the color in #1.
I also prefer the Color shot but only because of the three choices presented.
Since this photo has such beautiful lines and flow I'm sure there are many B&W conversions that would work. Just keep playing with it.
In the end, the version that works is the version that evokes the mode you feel about the shot. B&W is artsy and with art what you indent is what counts.
BW-photo's usually work best when the whole range from black to white is used. With your flower everything is either white or light-grey, which makes the picture a little flat and lacking contrast. Here all I did was increase the contrast on the first BW picture you posted (I hope you don't mind):
Thanks everyone for your input and suggestions. The color version is also my favorite but I have always felt that the magnolia should, somehow, make a nice B&W. Kevin, your explanation was a great help (BW-photo's usually work best when the whole range from black to white is used) and I love what you did with the contrast. Thanks so much. Susan
I like the color better of the first conversion, but I like the contrast of the second conversion. I think you could use the burn tool on the first conversion just a bit and get the contrast and keep the nice warmth that it has. Just my opinion, which is worth about what you are paying for it.