No, the 266 gate is inherently bad. I have owned dozens of gates, for comparison.
For real. I'll mix a band on whatever combination of beat up gear held together with duct tape you have. The closest thing to a 'specialty' I have doing live sound is making a no budget punk rock or avant jazz show work with whatever can be scraped up. I've got a pretty nice little rig put together now but in the past I've used every cheap Sonic/Mackie/Pyle/Phonic/Tapco/whatever POS you can name and the show has sounded just fine.
100 out of 100 times I'll take nothing at all over a 266.