Processing BW is, as stated above, easy. And the cost is low, especially after the gear is bought. With a little care results for processing negatives are as good as professional labs, and far, far cheaper. BW darkroom printing, on the other hand, is as much art as craft. While excellent enlargers and lenses are now really cheap, the learning curve to progress beyond a mere record print to something approaching art is long. And of course you need a darkroom, while processing film can be done in the kitchen, after you load the tank in total darkness. Keep an eye out for Ansel Adams' classics on the print and the negative.
Processing color, either C 41 or E 6, is a bit more difficult, mainly because of the need for close temperature control. Additionally the solutions have a shorter life after mixing than do BW chemistries. Color darkroom printing is, IMHO, really difficult. I say this having done a lot of BW work in the past, but only assisted in color printing. A really, really steep learning curve, and can get costly quickly.
My workflow is scanning 35mm and 120 negatives with an Epson V 700; I have a used Nikon CoolScan V coming which will handle the 35mm stuff. I'm setting up a BW darkroom which will enable both 35mm and 120 BW printing. I've been either taking files to Costco for printing, or running my own on a Canon Pixma Pro 100. Oddly enough ink jet printing color is easier than getting a really good BW print.
One last word: If you decide to use WalMart or other such for processing film, MAKE SURE THEY RETURN THE NEGATIVES!! Many such services transmit scanned images to the store where a CD is burned, with typically smallish file sizes. The negatives are destroyed. The problem is that without your negatives you can't get a custom high resolution scan of that wonderful shot. All the money you've spent for quality lenses is negated via WalMart and their ilk.