
Originally Posted by
palehorse
You'll find that the red channel contains most of the contrast, the green channel contains most of the detail, and the blue channel contains most of the noise. So if you've got a really noisy image, you can apply a filter like Despeckle or Dust and Scratches to just the noisy Blue channel instead of the whole image to clean it up, which'll keep you from losing detail, or sharpen your image by applying an Unsharp Mask to just the details of the green channel.
Channels are also really good for building complex selections instead of just saving them.