You may be right about stretching, but I still love the look of a leather loafer! And black should give good use since it doesn't show dirt as easily as a brown.
Spray those babies!!
BTW - we have the Saphir MDO Suede Spray in black. It's the only color that we have... black didn't sell as well as the browns, hence why it is still in stock.
But any waterproofing spray should work. We actually are now stocking the Terrago Suede Spray because there is still no commitment...