Just watched it again. Still awesome.
In retrospect, though, to someone who doesn't happen to be the Internet show-researching type... figuring out the nature of the black-and-white sequences just doesn't seem too likely.
How'd this one manage to not get a commentary?
"There's no need to tread lightly upon my feelings. I'm the first one to admit that Superman is my arch-enemy, and that he alone stands between me and my goal - but I shall find a way to deal with him..." - Lex Luthor, Atom Man vs. Superman
(Well, it was worth a go.)