When getting our new machine we toyed with this question ourselves. In the end we decided to sacrifice printing speed for a wider range of colours. There is on occasions where we’d like it to print faster but we’ve found that by scheduling our jobs better we can work around this, even if it means leaving the machine printing overnight. If you need a really fast print speed there is an option in the updated version of versaworks dual under "generic banner 1" which runs super fast. Print quality suffers as you’d expect though. We never use it but its always there if need be.
It shouldn’t damage anything but make sure the white channel is working properly before doing it, otherwise one of the 2 CMYK channels (I forget which now) will show up as banding when printing.
Also, it’s definitely faster in 2 x CMYK mode but not twice the speed. Probably closer to half as fast again in my opinion.
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