I think it depends on the customer. If it is an account with multiple sites, not like restuarants or fast food joints, but serious "high-end" properties, then it could be worth it. You have to take into account that some of those colored brochures can get expensive! You don't want to just hand them out at random, but choose wisely. Give a basic color brochure to the average customer, and sometimes you don't even have to do that if your sales pitch is good enough. Remember that they are buying YOU and your company!
I have high quality brochures that are in a monogramed folder with a list of references, qualifications, scope of services, etc. that I only give to the select Big Boys.
Once, several years ago, I had a client in the Atlanta area that were owners of all the Fairfield Inns, several Marriots and Residence Inns in the Metro area. They got the high dollar folder. Another one was the management firm for the Promenade (Chess piece looking office towers in Ashford-Dunwoody area). Of course selling those properties paid for several new versions of the packets.