I went with the MSD option. There isn't a good way to plumb the hoses for the MSD pottie on a H26 to the aft compartment. I tried to come up with a way to keep the hoses hidden as much as possible.
My 94' H26 does not have conduit from the factory running under the aft berth to the stern compartment. Installing conduit there is very difficult as the space below has foam and access is difficult. I know this because I did run a 3/4" conduit from the aft compartment to the galley and it was a real hard job, even with the smaller conduit. To install a waste hose through there would be next to impossible. For those with a 260, you're really lucky to already have the conduit in place. I wish Hunter would have thought about that with the early H26's.
I ran my waste and vent hoses through the back of the head hanging locker up high through a 3" conduit I installed in the port coaming, which is completely hidden from view in the aft berth. I was also able to run a 3/4" water line for a transom shower through the 3" conduit, and still have room left over if I need to run any wires. This way the hoses are completely hidden. Also, the hoses are inside a 3" conduit that is installed in the coaming, filled with foam, which should help hide any potential odor.
I don't think Peggie would approve of my installation though, due to the pump out and vent fittings being installed on the transom. The only possible issue I can see is maybe the vent could possibly be a problem. If so I have two options.
1) Install a shutoff valve on the vent line if the smell gets to be too much. After all it is a MSD porta pottie, which if used in a portable fashion would not have a vent line installed anyway. I would just need to remember to open the valve during pump out or the 5 gallon tank will collapse from the vacuum.
2) Move the vent to directly over the pottie. I don't particularly like that option, but will go that route if warranted.
If interested I posted some pic's in the mod section
http://hunter.sailboatowners.com/mods.php?task=article&mid=15&aid=100040&mn=26