The Mill Creek Blu-rays are black and white, like the show was originally made, despite there being no full black and white Japanese Blu-ray release AFAIK (only selected episodes in B/W, or all episodes colourised). I don't really like the colourised look, so I'm glad it's B/W. Not sure if the subtitles were white or yellow though.
Mill Creek's subtitles are white with a black background on the Bluray. They still have moments of poor visibility but they're better than the Mill Creek digital version, which has no border.
I honestly think Ultra Q's colorization was one of the best and it looks pretty good, but it is also nice to have the option since the colored version can be found pretty easily online.
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