I have not shot the 7D but have used the 5D MKII for over a year now. I have found noise levels to be very acceptable up to around 2000 iso. Pretty much after that
unless the image is going to be on the small side the noise to me is harsh. It may just be my camera also. Of course coming from the 1ds and 1ds MKII, what you can
get from the 5D MKII is still amazing, I think that the new Nikon D3s and Canon 1D MKIV have much higher thresholds.
With the 5D MKII, I tend to use the standard settings for noise reduction in camera for raw. There is a setting you can change out for higher ISO noise reduction, I leave
mine at standard, but have also used the high setting. For long exposures, there is a setting for noise reduction also, and I just leave it on, not auto. I recently did some 50
and 40 minute star trail exposures with the 5D MKII at ISO 100 and the results were amazing. The camera will write a dark frame after each exposure which does take
some time. I did find that on a 40 minute exposure after about 20 minutes of the dark frame I was able to free up the shutter and take the next frame. Nice buffer work
there from Canon.
I think that you will be most impressed with the noise or lack of noise with the 5D MKII.
Paul Caldwell