Wow, cheap for a M7. They MSRP for close to a grand, now. Mine is in .308, a later 20" barreled stainless one. It shoots 3/4 MOA even with the soda straw barrel and is so light and handy in the field, it's just a great little hunting rifle. It's an all around gun, mountain and open terrain accuracy an light rifle, quick to the shoulder for brush. I put a 2x10x40 Weaver on it that's equally all around. I haven't hunt with much else in the last 10 years since I got it except for handgun hunting.
I think for 400 bucks, though, unless you can find a deal on a used something or another, you're in Savage/Stevens exclusive territory. They're good, functional guns. I have one in 7 mag. It'll shoot 1 moa and the trigger is tunable. Mine is the non-accutrigger and I set it to break at 3 crisp pounds. I put another stock on it and sold the birch wood. It's a free floated stock and helps a bit keep the groups tight as the barrel heats up. It ain't as pretty as my Remingtons, but it's a good shooter.