You can turn any black and white camera into a color camera by taking 3 pictures with a red, green, and blue filter. Obviously only works with a static subject.

I must admit 12MP is lower than I expected. It seems the intent was to use large pixels to get huge tonal range rather than small pixels for resolution.

They might be going for people who shoot and print at 8x10, so 12mp is ~400dpi... "probably" high enough for that. Or maybe the color resolution and response is amazing. Or maybe it's all about the lens you'd use. Not sure exactly what the market is for this, even after perusing their site.

The photographer who created it uses it for some final work, but also for setting up shots and switching to film for the final shot.

You're right, I definitely won't if it costs $106k. ;)