I the colonies in the order I figured I would need them: Lemnos for the marble, Ephesus for bronze/armor, and Lerna for wine (oil I really would never need).
Episode 1 was relatively straightforward, but Episode 3 a minor concern. Keeping the Kraken shuttling back and forth between my piers and urchin quays reduced his effectiveness, and I built the sanctuaries in the order Athena then Hermes, given that Athena would have to be the backbone of my defense in this episode. Once Perseus arrived on the scene, it was all over for the poor Kraken.
Episode 5 was time for some elite housing, and the sanctuary to the big man (Zeus). It was fun watching Zeus and Athena make mincemeat of the invasions from Lemnos and Mt. Pelion.
Episode 7 was pretty much over before it started. I beefed up my army a little, and then walked all over Mt. Pelion.
The key to this city is the complex of sanctuaries around the fleece and oil industries. Both Zeus and Athena do a rather good job of sanctifying the relevant buildings, delivering an enormous (4-fold) increase in productivity, allowing me to supply demand both at home and abroad.