Check out Russell Brown’s Tips and Techniques Here. <
http://www.russellbrown.com/tips_tech.html> Oh, and while you’re there check out some of his other actions and scripts as well as his quicktime tutorials.
Scroll down to "Black & White Variations" and download the (FREE) script, pretty cool — of course, view the quicktime movie to see how it’s used.
Not included in the script however, (I’ve added it to the Russell Brown script) is the Burt Monroy technique: With your RGB image targeted in the layers palette, go Image > Calculations — The "Source" for both 1 & 2 will be your original document and your "Layer" will be (Usually) the Background, or the particular layer that you want to convert to B&W. For the "Source 1" channel, select Red, for the "Source 2" channel, select Green, Set the "Blending" mode to Multiply and start the opacity setting to about 80%, for the "Result" you can select New Document, or New Channel. If it’s a new channel you can select the newly created channel, select all, copy,then paste on top of your original in the layers palette.
I’ve added this to the Russell Brown Script but I make 5 layers going from the starting 80% for the opacity to 30%
Give it a try, it really is a lot easier than my convoluted description.