I have done a bit of research ever since i posted my query about hair dyes. After reading your responses, i felt it best to stay away from permanent dyes and explore the other option which is henna. i dont know how popular is henna in the west but here in the east it is extensively used to colour hair and decorating hands and feet. So off i went to a reputed parlour to know abt its pros and cons and here is what i was told..
1. Henna is natural,vegetable, semi permanent hair colour which doesnt contain chemicals like ammonia which can harm you.
2. Unlike chemical hair dyes, henna doesnt permeate the hair shaft but coats it from outside.
3. last but most attractive advantage is that you can use it as a nourishing pack for your hair by adding lemon juice for shine, fenugreek powder for conditioning and egg/yoghurt for nourishment. it also helps prevent dandruff, hairfall and itching due to dryness of scalp.
The one and only disadvantage i feel is that putting it on for 2-3 hours and washing it off is a messy business but for those of us who are not bold enough to go grey, this is an option worth exploring..