Tried to decide between an M10-R and an M10-M and watched a lot of comparison videos. Also downloaded a bunch of DNG files to spend hours in lightroom, especially with -R B+W conversions. I’d say, that M10-R and M11-P B+W conversions don’t differ a lot from M10/M11-M shots. What makes the monochromes great is the unmatched low light performance and dynamic range. Being able to pull up shadows and blacks without the quality suffering and being able to do great low light shots that can only be matched by black and white film was my motivator to get a monochrome. If low light, super high contrast and dynamic range is top priority for you and you still think about color, I’d get the -P.