The best option is to shoot film. The dynamic range and tone of film is still the best and it's "full frame". Cost is "way cheap" compared to digital. It can buy a good film body for under $100 and the film itself can be very inexpensive
Shooting B&W film requires two decisions that affect the outcome considerably- a decision that you don't have to make until you go to convert a digital image- film type can have drastic results, and film developer can have as drastic results, neither of which you can "do over" as you can in digital. T-grain emulsion, non-T grain emulsion? High or low actuence developer? Staining or non-staining developer? Once you make the choice, you're going to have a base image that has a certain printing latitude, tonal range, grain structure and overall look- and if you're scanning, even less leeway.
Worse-yet, if you're not doing your own development (where cost is really time) then you don't have any of the developer choices, and that could be even worse.
As far as dynamic range- you're looking at 6-8 stops for most B&W film by the time you get to a print - about what you'll see from most modern digital cameras- without blocked highlights and muddy shadows if you chose the wrong film or developer. You may do better with a scan, but in terms of what people are used to seeing in fine art photographic prints, digital will get you to the same basic place much more easily and without worrying about the right film, the right developer, or the right development time.
No more roll film blues from having the wrong speed film in the camera as well.
As far as "full frame" goes, I've never had a print remain unbought because someone said "Hey! That looks like it was shot on APS-C!" In fact, I regularly enlarge APS-C digital images beyond the 8x10 that I'd max out a film print at in the darkroom (again, scans may get you further these days, but apples-to-apples, digital wins- lugging around MF cameras to be able to go to large sizes was a hobby.)
Finally, if you're not buying all the equipment, chemicals and doing your own development, no more "the lab screwed it up!" or "it was lost in the mail!" Trust me, the chance of finding a B&W lab locally that's not going to mail it all out is getting lower and lower.
Here's a pretty good take on things:
http://theonlinephotographer.typepad.com/the_online_photographer/2007/08/digital-bw-the-.html