bubbers44:
No, that would be minimum maneuvering speed which is authorized as covered in a previous post. I have had to use that speed in a 767 heavy a few times. You obviously don't leave flaps out to maintain 250 knots. The captain is authorized to use that higher minimum speed to operate his aircraft properly.
Indeed, it is done all the time, but only at a relatively small number of airports that have large airplanes and long range flights.