Because I needed to add some new media I did install the 7_00.11 firmware, and did do the calibration and RIP created profile with LRCM on. I am thinking that might be a good practice especially for profiling.
I received the same message about re-calibrating like in the previous firmware where temp/voltage changes to the printheads were made so I am assuming some changes were made in that area that I was informed were to be changed from HP. But, I found no issues with not being able to re-calibrate existing media correctly like happened with some previous firmware.
I have not had any big jobs (long runs) where I would have used the lc/lm inks so I can't really say if there is an improvement there or not. The big jobs were all run in CMYK mode LRCM off and I didn't see any consistency issues at all through a couple of rolls. Pantone 200 and 280 matched all the way through those rolls at 10pass 120 ink density. The smaller runs in CMYKcm mode even with LRCM off maintained nuteral grays through out the run, but the jobs were not of the nature where ink starvation might have been a problem. But then again I print in a fairly well climate controlled area so that has never been much of any issue before. The only real color consistency issues (not counting needing re-calibration) I have had were lc/lm ink starvation issues which I haven't tested for yet, manly because I have learned how to deal with that issue and avoid settings that contribute to it.