Not to go too far on a tangent, but I think the general principle [of limiting color palette] is applied in a lot of great looking games. The minimalist grey/black/brown/etc schemes may set a mood, but they also seem to be used at times to limit the palette. RE4 comes to mind among others. Shadow of the Collosus, while I have not played it, the videos I have seen all tend toward a more drab color scheme, which of course is offset by the shere size of the bosses.
Anyhow, I am with you guys. Some stylized games using a grey tones black-and-white scheme like the above would be neat, if not a needed change of pace.