Colour is ok for the day and B&W is good for night unless you have very good lighting where the cameras getting aimed at. It really depends on how good a quality and for what purpose as well.

All of mine are colour by day and B&W by night and hard wired as I didn't feel that wireless was the way to go, well for what I wanted anyway. If your doing it for prevention then get a decent dummy camera mounted up then hide the one your using elsewhere ...just be careful where its pointed as some neighbours can get arsey and paranoid that your filming there bedrooms, which can be a real insult to you is shes right minging!