Since I have three cheap enlargers, I can relate to many things.
I have a color head on my 35mm Durst. I might be mistaken but I think all color heads are diffusion.
Pros: very even light, reduces dust and scratches, don't have to use the filter drawer.
Cons: light is weaker than a comparable condenser model, forget about grade 5, lower contrast, you have to adjust exposure when switching grades by using a multiplication table.
On my small LPL enlarger that is dedicated to 6x6, I have a condenser head.
Pros: Very strong light, good contrast, ilford filters have a built-in ND to make exposures simple to calculate.
Cons: Harder to get even exposure across the frame, shows every speck of dust and scratch on the negative, you have to use filters, you have to be very careful with the condensers (don't scratch them or you're cooked).
Now, I must say my favorite one to use is probably my cheap 6x6. I just love the spark a condenser gives to your images.
But my diffusion 35mm enlarger is so reliable and predictable... I know it can deliver something good.
As for timing, I got an electronic timer (nothing fancy) that works fantastic. I just love it simply because it is a repeating timer. I calculate everything in my head. I need to add a stop, I just press the red button a second time, that simple.