Aye, I like the color one too. If it were to go into print (like in the front of a fantasy book where maps usually end up) the black and white one would look perfect though.
I'm not too sure about the grid. If you're going for semi-authentic navigational map I imagine the grid would be bigger. If it's were a campaign map I don't know if there should be a grid on it to begin with.

I absolutely love your mountains and your trees. Of the fonts you used I think the fancy curly one fits the style the best. Oh, and I also love the coastlines!

Looking forward to seeing how this turns out!