I had the same question last summer, and went with the color unit, and boy am I glad that I did. I was on a budget, so I went with an Eagle, And it is awesome for the recreational fishing that I do. And a good price as well, $450 vs $379 for a similar unit but in B&W. And then the Eagle was $450 vs $7-800 for Lowrance. The eagle still accepts the Lakemaster or Navionics chips, so that was the route I went, and I love it, so if it is affordable, it isn’t much more to get the color.
Here is a link to the unit that I bought from Wade
Eagle Color Sonar with GPS from Jolly Ann Good Luck