Good idea, I like the theme, and the arrangement of flags in the scene. But there are a couple of things wrong with the processing. It's way oversharpened, there are halos and jaggies around the edges of each stripe. The second thing is a general darkness. The white stripes on the flags are about a medium grey. You might read the black and white conversion tutorial to get some ideas for how to get the b&w conversion to work.
Well, It is good for the building patriotism in American people. However, I'm afraid you may suufer from the people of other nationalities, who will see "just" a flag.
I'm not sure everyone will agree with this being in the "good" challenge. In B&W the image is flat and lifeless and I don't think it strikes much of an emotive feel