1. There is no privacy.
The vast majority of inns, and all of the good ones, have plenty of privacy. Your room should be quiet and free from interruption. You won't be forced to interact with other guests, nor will you have to sit down with the innkeeper and look at old family photos. At a small inn, you may be able to go through your entire stay without ever seeing any other guests -- try that at a hotel! Innkeepers tend to be very concerned with their guests' privacy and do everything they can to respect it.
2. The innkeepers are hiding.
This is almost the opposite of myth #1. Some guests are concerned if they don't see the innkeepers when they return from dinner, or sometimes even at check-in. (Some inns leave a key in a pre-arranged spot to facilitate a late check-in.) In most cases, the innkeepers live in the same building that guests are staying in, so they're never too far away. They're probably just trying to respect your privacy.
3. You'll sit with strangers at breakfast and have to make small talk.
It is true that sometimes breakfast is served at one or two large tables, so guests who don't know each other may sit together. But in all the times that my husband and I have stayed at B&Bs, this has never been a real problem. Most people don't try to force conversation when it becomes apparent that you'd rather enjoy a quiet meal. If it does become a problem, you can talk to the innkeeper about it and time your future breakfasts so that you're almost sure to be alone.
In most cases, particularly with inns of less than 10 rooms, the innkeeper/owner is the only person (or couple) working at the inn. Sometimes, they might have a maid help with room preparation in the morning, but by and large that person is handling everything. This means that you should arrive on time, or at least call if that's not going to be possible. Innkeepers often plan their day (including shopping for your breakfast foods) around guests' arrival times.
5. Innkeeping is a hobby.
Most innkeepers couldn't make a living just by running their B&B, but that doesn't make it a hobby. It is a serious business with many facets.
6. Breakfast is simple to make, and innkeepers can just whip something up.
Most B&Bs plan breakfasts days or even weeks in advance, so you need to let them know ahead of time if you have any special dietary needs or restrictions. Going back to myth #5, the innkeeper is often also the cook, the waiter and the dishwasher. The best breakfasts I've ever eaten have been at B&Bs, and that didn't happen by accident.
7. B&Bs are very expensive.
Not necessarily. There are some expensive B&Bs, but there are also some very affordable ones. It depends on the inn's location, amenities, and other factors. But if you've avoided looking at B&Bs as an option because of the cost, think again. In New York City, for example, high-quality B&Bs are very competitive with hotel prices. In areas less often visited by tourists, B&Bs can be an amazing bargain.
8. Business travelers can't stay at B&Bs.
9. Innkeepers are rich.
If they are, it's not because they're innkeepers. Although they might own beautiful homes which have been restored and immaculately decorated, most innkeepers don't even make all their income at the inn. If a B&B has less than 10 rooms, the chances are very good that the innkeeper, the innkeeper's spouse (or both) has outside income.
10. There will be strange rules and a curfew.
Sometimes an inn will have rules that mystify me. But I've never stayed anywhere that had what I would call "strange" rules. And no B&B has ever had a curfew. Innkeepers will sometimes ask you to be quiet if you come back to the inn late, out of respect for other guests. Make sure you read all of an inn's policies on their web site before making a reservation and you should never be staying at a B&B with truly strange rules. Innkeepers are not control freaks -- they want you to have a great time, and they want you to come back.