My model 7 is the 18" version in 7-08 - a very close cousin to the 260. I bought it as a rifle to be carried a lot and not shot that much. With a neoprene sling, it is comfortable for carry in the mountains. At the range, off sand bags, I get very acceptable accuracy with its favorite 140 gr load, but as you suspected, the thin barrel heats up quickly. My level for too hot is if I can't hold it longer than 1 second. After a three-round group, it is time to let is sit for a minute or two (which is why I always brought a 22 or similar for in between.
The 260 is the short action 6.5 Swede - another excellent cartridge - if the goal is hunting and not high-volume target shooting, the Model 7 will do the job in a compact, lightweight and accurate package