Like the “Canon i9900”:https://www.tongfamily.com/2006/06/canon-i9900-from-canon-digital-rebel-xt-printing-with-photo-paper-pro-adobe-photoshop-cs-or-cs-2-and-red-river-68-lb-glossy/#more-2629, the MX700, although much lower quality, does allow color matching and so forth. You just have to be able to decode the very cryptic Paper profiles that Canon uses for its paper. They are as follows, where Paper Pro is their best and Paper Plus is their good quality photographic paper.
# Canon MX700 PR1 means Photo Paper Pro, Print Quality 1 (highest quality)
# Canon MX700 PR2 means Photo Paper Pro, Print Quality 2 (the default)
# Canon MX700 SP2 means Photo Paper Plus Glossy, Print Quality 2
# Canon MX700 SP3 means Photo Paper Plus Glossy, Print Quality 3
# Canon MX700 MP2 means Matte Photo Paper, Print Quality 2
I have no idea what GL2 and GL3 are as paper types, but my guess is from the driver, it means Photo Paper Glossy II.
On this particular printer Photo Paper Pro only has Print Quality of 3, 2 and 1 where lower is better and Photo Paper Pro can only be quality 2 or 3, so it can’t be highest. Matte Photo Paper similarly is only 2 or 3.