@jonathanhudgens, when you say that grayscale gives precedence to the story, it seems like you're implying that color distracts from the story, in which case I'd have to strongly disagree with you. As with any aspect of art in comics, color should reinforce the story, not distract from it. This is the essence of color theory! Take, for example, a winter scene. In grayscale, the fact that it's winter would be plain enough, sure. But just by adding some shades of blues, you get the coldest, iciest, most unforgiving snowstorm of the decade! Vivid reds can paint a picture of passion; sickly greens indicate illness; soft pastels inspire a pleasant calmness. Even grayscale, or lack of color, can be used to set the scene of a drab and cold city. I'd go on and on about the role of color in story, but there are a multitude of resources that do a much better job. For starters, here's a video I found useful: https://www.youtube.com/watch?v=Qj1FK8n7WgY
@juliomartelljr1 whether you choose to use color or not depends on the nature of your comic.
If you want a story-driven comic, I'd strongly urge you to use color, at least for the first few pages. After all, the art of a comic is the first thing readers will see, and hence what they'll base their first impressions off of. If you don't have the time to color all the pages, then you don't have to. A word of warning: do NOT color just for the sake of having color! As a creator, you should always think of how each part of your comic helps the story, and color is no exception. Again, there are a multitude of resources out there to help you understand color theory.
If you intend to make a gag comic, color can still play a role, but I'd say it's less important.
Here are a few comics that are good examples of using color in story:
http://tapastic.com/series/Paleo-Pals
http://tapastic.com/series/APOTHECIA
http://tapastic.com/series/nero (you'll notice this series is very conservative with colors, which works very well with its type of story; probably in line with the "serious tone" mentioned by @shinepaw )
http://cucumber.gigidigi.com/
A few resources for choosing harmonious color palettes:
http://www.colourpod.com/
And again, the video I posted above: https://www.youtube.com/watch?v=Qj1FK8n7WgY
I think it's very useful for understanding color theory in relation to story.