I really like the closness of this shot, it has definate mood, an interesting shot which tells a story, your use of selective desat is perfect for this shot. I think this one was really underated, probably just from viewing so fast, you need to take a minute to really look at this.
the closeness of their hands is odd to me. perhaps their sharing, but it makes me feel a bit funny inside, i suppose any reaction is a good reaction. the processing and composition are pretty bizarre though.
All of the hand clutter the frame a bit too much. As for keeping only some color, I think keeping only the color of the smoke would have worked best (assuming that the cigarette stands out more with only one hand). The color in the smoke is very pretty.