I got a quicker way that get a similar effect, I have had it saved in my personal actions but it is so much simpler, I call it a semi sepia since it is like half way between black and white and color.
1) Make a new Gradient Map Adjustment Layer of black to white(do not have reverse set).
2) Duplicate the Background layer (one with your photo on it) and drag it above the adjustment layer and set its layer blending mode to color and its opacity to 40%.
ages ago(permalink)