My projection tv (Mitsubishi VS-6051) is often in black and white. I
thought it was an issue with the Cable TV connection -- some channels
would be in B&W, others in color but later fade to B&W, others colors
but not so good -- but when I watch DVDs, the problem is the same: the
image is in B&W.

I figure if it costs more than $500 to fix, I should just get a new
TV. Please let me know what your assessment is.

Depending on the age, if you were to elect service, the first thing a repairman
should look for are bad capacitors. If it's got the PIP module, that would be
one of the first things to look at. Mitsubishi sets are notorious for problems
associated with leaky capacitors. - Reinhart