Not better than tray developing, just uses a lot less (expensive) chemicals and is easier to control the temperature with a water bath for colour processes. Ditch the Cibachrome as the chems are no longer available and the paper will be dead anyway, ditto the B&W paper.
Even if you file out the neg carrier, the condenser won't have enough coverage for 6x7. You will need a 6x7 enlarger or buy a Rollei
The enlarger should work ok, and the 50mm will be passable, but the 75 will most likely be cr#p.
Don't be put off though, as darkroom work is very addictive, you just need three trays and if you have a 35mm camera try that out with the enlarger...or shoot some 6x7's that can be cropped to 6x6.