I set up both approaches, in fact I had two cities up there for hundreds of years. But there's no way they could build an army and grow, so most units were ferried two a turn at the narrowest point. I wanted to make sure I did not tip you off and scouted out your civilization with the spy unit years before deciding to invade. And since I had no elephants of my own on our continent colonization was needed to ensure our... shock-a-phants (shakaphants..?) We did trade gold for ivory but that was only for happiness, I don't recall producing war elephants on the deal; but when we canceled that we had already set up our colony.
The colony was originally low cost at the time, as overseas trade routes became available to each city back home. But with the addition of Roman towns the expenses are really starting to rack up. 80% of our commerce can be eaten by the expenses during a golden age, but with representation, the great library, caste system and pacifism my economy is set up more heavily on scientists than ever before. It's actually a mess, and even now I continue to add more workers to the force and repurpose improvements. But hopefully Greece will be showing Tommyworld the path of progressionism for generations.