Maybe, but, that 260 is drawing about 3A of 120VAC current from the wall. You can rebuild, resto-mod or build a supply or augment a supply, like that Altec, with a 24VCT@1A filament tranny, then only draw about 1/2-1 A of 120VAC from the wall.
Also, consider that the power amp starts off with well over 400VDC and we only need 150 VDC. That is a lot of resistance "along the line" needed to drop the voltage. I know the 260 is a great sounder. I have had two. Maybe, keeping the 260 on is best done while listening to its' precious tubes and trannies....
There are many threads and posts in the archives about Variac "ramping-up" for warming-up old, rested devices. Search thru if you have some time. Try and increase the AC Volts leaving the Variac slower and with less incremental voltage increases as you wrote. When bringing units back to life, the capacitors inherently "leak" a bit of AC, then settle down to minimal, when another few AC Volts can be added. Measuring the AC Volts leaking at the power supply caps needs to be checked/monitored regularly. It is not a matter of time, but a matter of stabilizing the old cap while it "vibrates" warming-up inside.
When I attempt reforming caps in power amps, I pull the opt tubes and driver tubes before turn-on and ramp-up. The less current drain is more likely to stabilize the old electro sections quicker. I verify lowest AC leakage at HV test points. Let's say I begin with 50 VAC leaving the Variac. The still inserted amp's rectifier and a few signal tubes will take a few minutes to begin conducting. Measure the DC Volts at the HV points. Turn the meter to AC Volts and measure at the same points. Initially, the AC leakage at the input cap filter may read .8 VAC. In a few minutes, it might go down to .3A. At the filter cap section nearest the voltage take-off for the preamp might read .1 VAC initially, if we are lucky. But, as it re-forms and settles down, that same test point could read .003 VAC or at least less than ..07 VAC. Then, we can raise the Variac 5 to 10 volts and re-measure. A few You Tube videos later, re-measure again. Settled down to less than .05 at the preamp sup[ply point ? Good, raise the Variac another 5-10 VAC and repeat.
Eventually, if the electros stay cool and AC V leakage dies off quickly, we will be getting close to the maximum working voltage of the electros. Turn it all off. Insert the driver tubes and redo the slow ramping-up procedure/testing, starting at 50VAC in again. All good and leakage getting low quickly ? Get to the cap working voltage and...Great, Turn it all down. Now, insert the real current drawing culprits, the opt tubes. Assure speaker taps are loaded with speakers or beefy "dummy load" resistors.
Now, the real testing and reforming begins, as the large current can quickly create heat in the electros. Be careful increasing the ACVolts. Slow and steady wins the race...Test those voltages constantly. You will note the initial filter stage cap could now indicate a perpetual amount of residual ACV leakage, around 1V to a few. Check the further along, voltage take-off points, especially the preamp supply point. If that test point still shows super low leakage, Hallelujah ! Repeat the ramp-up as the leakage dies down. Slow and steady...rushing here will undoubtedly heat up a weak cap section and ruin the night.
I often back-off ACVolts if any cap gets even warm. If any get hot, definitely back down and wait to hope it cools down. Measure the take-off points and make sure AC Volts are receding, not increasing. Presuming all went well after many hours of the ramping-up, it's listening time. However, be aware the amp electro caps may still be "shaking loose" the layer they are trying to reform. Don't be surprised if a cap gets hot...just get disappointed and replace it. Then, it's ramp-up time again....