Hi there, sorry I'm obviously not from the same generations as you old-timers! I didn't even know there was a B&W version of "Mafioso". I saw the recent one (in color) and I remember liking it in the sense that it could never compare to "The Godfather", "Goodfellas", etc. BUT NEVERTHELESS I liked it.
But, yeah, as far as the B&W, that wouldn't keep my attention. I was born in 1984 so it took a lot for me to even pick up "The Godfather". Everybody has their own likes and dislikes. I just don't care for movies older than 1984 with the exception of "The Godfather" of course!