Color and Digital Infrared
Many people are wanting to shoot infrared photographs with their digital cameras and have wondered , "Why shoot in color rather than B&W with the filter in place?".   My feeling is that by shooting in color you have greater control  (editing choices )  if you first shoot in color. Here's my technique:
Camera : Minolta Dimage 7
Mode: Color 
ISO 100    Hoya IR 72 filter
Tiff Format ( I know, but I really prefer tiff to RAW or High Quality jpeg ).

Remote shutter release and camera on tripod.
After downloading the tiff file into Adobe PhotoShop, I created a duplicate image and saved the original  to my HD. Then I clicked on "Create New Fill Layer" icon at the bottom of the layers pallette ( you can find this under Windows... show layers ).  Next picked Hue/Saturation. Click "OK" on the dialog box that will pop up.       Next, set the Mode of this layer to color... this lets me adjust the Hue and Saturation.
     I again clicked on the New Adjustment layer Icon and again chose Hue/Saturation. Set the Saturation slider to   -100 .  Click "OK".  Now I double click on the middle layer thumbnail ... up pops the Hue/Saturation dialog box again. Slide the Hue arrow... you will get some interesting results. This is where you're able to have greater control over tonal ranges ( As opposed to shooting in B&W). Move  the Saturation slider next,  until you like  what you see. You can also use the drop box to only affect the Red Values. Try it.  Finally I flattened the image layers... converted from RBG to Grayscale... and made a little levels adjustment and a tiny adjustment to Brightness/Contrast.

Another fun thing to try is to take your original copy ( Is there such a thing? ) and open up the Channels  ( Windows - Show Channels ) and deselect the blue and the Green channels.  (To deselect, just click on the little "eye" beside the channel name ). The remaining red channel will appear as a B&W image. If you like this, just click and drag the blue and green channels to the trashcan icon at the bottom of the Channels Dialog box. Convert the red channel to grayscale.  Tip: Rarely will the Blue channel be a nice looking image... but sometimes the Green channel will look better than keeping the red. Experiment. 

Either of the above methods can be used to create B&W images from color files.
The scene In Color
IR Filter / Color Mode
After Conversion