First, about the grayscale ImageMagick.
ImageMagick does not actually have that color space. This only fakes it in the RGB space, setting all the values โโin the R (red), G (green) and B (blue) channels to the same values. (If the three values โโdo not match, the image will no longer be displayed in grayscale.)
Secondly, about your (seemingly) unsuccessful attempts to create images with an 8-bit alpha channel.
This is because you do not put different color values โโin your transparent areas, they are all simple (completely transparent).
Try this command, which converts the embedded image ImageMagick logo: ::
convert \ logo: \ -bordercolor white \ -background black \ +polaroid \ polaroid.png
Output Image:

will happily show your required 8-bit alpha values:
identify -verbose polaroid.png | grep -A 4 "Channel depth:" Channel depth: red: 8-bit green: 8-bit blue: 8-bit alpha: 8-bit
Or try converting the inline rose: image to translucent:
convert rose: -alpha set -channel A -fx '0.5' semitransp-rose.png
Same result: 8-bit depth for alpha channel.
To change one of the source commands:
convert -size 640x480 xc:none -depth 8 -channel A -fx 0.5 test.png
If you identify -verbose resulting image, you will see that the channels R, G and B are only 1-bit deep and channel A is 8 bits. This is because a value other than 0 is actually used, while the rest of the channels are all 0 .