I cannot help with your Olympus but if you shoot RAW from a Nikon D50 and process this RAW image in Nikon Capture NX it is possible to adjust the B&W conversion. B&W conversion from RAW should be most faithful to true black and white.
Nikon Capture NX is a superb RAW converter for all Nikon cameras and applications - its worth a try!
Nikon Capture NX is available as a 30 day trail from the Nikon Website.
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