I know this thread is based around the 700, but I maybe my experience with colour and a 250/260 might be of some help. I started off with grand ideals about calibrating for every different stock, coating and weight that we had and that lasted about a week. There was very little difference between the calibration sets.
Now the way I've got them set up is
• I picked my favourite profile (Colotech 220+) from the defaults.
• Turned CMYK Sim Off (I find this usually causes more problems than it solves)
• Tweaked the Dmax (that print looks like there's too much yellow? Take some yellow out. simple as that. Rinse and repeat for different jobs until you get a consistent result.)
And that's it. I use one media output profile (well, two, one looks at a coated calibration the other looks at an uncoated one) and do two colorcals - one for coated, one for uncoated.
I find this gives me a decent colour, and there's not too much upkeep trying to hold it there. Not exactly scientific, but then again, you're a printer - trust your eyes!
Might start to tweak the curves in the next while, but that's just being fussy, Dmax is enough to get you nearly there.