Now instead of being limited to a simple desaturated conversion to black and white, users can choose from several styles of black and white that are based on color channels from the original images. After choosing a style, the B&W effect can be further refined by clicking on the variation samples. It's really very simple and gives much nicer results than the desaturate command.
Photoshop Elements 5 has a new Convert to Black and White command that features variations, much like the color curves adjustment discussed on the last page.
Black and White Variations
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