The image resolution is really determined on the size of the print too. If you're doing a pretty massive one (36x48 or larger), than yes, you'd can set it around 700 dpi. Doing letter up to 24x36, 300dpi will be fine with the proper settings and ICC. Also, if you're monitor isn't calibrated properly, you won't get the close output that you will see. If you do soft proof and the colors aren't as good, this is probably because it's an updated ink from the previous series. Each new series will have newer ink formula which will possibly show a slightly different result than before. It's going to happen if you started with a Photo 2200 and went to a P900 (example)...many ink updates throughout.
But getting the proper profile (unless you get one created or make one yourself) is a really good start.
Select "Black Point Compensation" and Relative color metric for photo/fine art prints helps too. You can always adjust the settings in Photoshop to "hopefully" get it closer to a previous printer output, but this may not be realistically doable due to different inks.
But definitely make sure the nozzles are firing properly before the print and all settings for printing (computer side) are selected (to the best of your ability). This "should" give you the closest print from what you see on screen. If not and you've done cleanings and what not, than you may need to speak to Epson and go over things in case it's the printer.
Good luck!