HyperDither is a free image processing utility that converts your color or grayscale images to beautiful 1-bit black & white. Its very simple to do it, you have to open or drag your image into Dither Window and they will convert it for you in Blsck and White or Grayscale. You can then save it to disk or copy it back to the clipboard.
Download it – HyperDither_1_0_1.zip (1.34Mb)
The image you have displayed in this post looks really good.
Cool tool. Now I won’t have to play with Photoshop to do this.