As others have already posted, it will be very difficult to determine distance or absolute magnitude based on spectral type or B-V index alone. The best way to get around this is to just ignore non-MS stars, and work with the MS only. If you want to include all stars though, you'll have to include the luminosity class as well, which can only be determined by careful study of the width of the absorption lines.<br /><br />For what it's worth, I've long read that giants and supergiant stars often have a slightly higher (that is, redder and cooler) B-V index than MS stars of the same spectral type, though this seems to break down near the top of the MS. For instance, check out the following color indices for M0 and G5 stars of various luminosity classes, adapted from <i>Norton's Star Atlas</i> (19th ed.), p. 142:<br /><br />M0 V B-V = +1.40 (dwarf)<br />M0 III B-V = +1.56 (giant)<br />M0 Iab B-V = +1.67 (supergiant)<br /><br />G5 V B-V = +0.68 (dwarf)<br />G5 III B-V = +0.86 (giant)<br />G5 Iab B-V = +1.02 (supergiant)