There are several different ways of producing a black and white conversion, some better than others obviously, and some that require a little bit more effort. Here's a link to what I consider to be a very good video for more advanced conversions and is the method that I use quite a lot.
http://photoshopnews.com/2009/03/19/...te-conversion/
Also from the same author is an excellent tutorial by way of downloadable pdf document available here:
http://www.schewephoto.com/workshop/Perfect-BW.pdf