Black and white would work, I think, for All-Star Squadron. But Infinity Inc. was one of the first "deluxe" series, meaning that it appeared on better, thicker paper, and the artists tended therefore to have the panels blled together a lot and relied on specific color interplays to make the pages look good. I think that's the case for any later series as well (imagine 52 or Civil War reprinted in black-and-white...)

But there's certainly enough All-Star Squadron for at least 2 Showcase volumes...

Except, of course, the black & white reprints of color comics are heretical and evil and demonseed and ... oh right ... "wide berth" ... never mind...