What is the best approach to mass updating prices? We need to batch update pricing for almost 200 products in our catalog and would prefer to learn a more efficient method than individually editing products just in case we ever need to do this again. My assumption is to use Magento's export feature to get all the products into a single flat file, update columns or do percentage adjustments and reimport the CSV back into Magento. Should I consider any other method than this?
Assuming you have a dev instance of Magento, Export a products.csv file and then make the adjustments in the .csv file (Libre Office or Excel should work).
When you go to reimport, save as a .csv and make sure the required attributes (e.g., 'status', 'visibility' and 'tax_class_id') are in the .csv when you import.
Magento allows you to check the file prior to import.