I have a rebel xt and a t2i. The t2i is a better camera in virtually every way, but the jump in image quality isn't that huge with my cheap lenses.
At 200 ISO in raw, noise is comparable at 100%, advantage to the t2i since it has more pixels. At like 1600 ISO and beyond the t2i's advantage is even greater but there's this weird pattern it takes on. Clearly there's some NR at work, which mostly reduces chroma noise. But it does work. The images aren't as "smooth" as I've seen from Nikons but noise isn't offensive looking, whereas the xt shows some blobs of color when you push 1600 ISO shots. A stop better is a good estimate, I think, but it's a subjective difference, to some extent, and the advantage may be even greater when shooting JPEGS (which look great out of the t2i).
If you can, borrow a 7D and see if you like it, but my guess is the difference won't be worth it. At low ISOs, all Canons seem to have noise buried in the shadows (apparently due to noisy circuitry or something I don't understand). I have to say the 7D is a very nice camera in general, though, and the t2i isn't shabby for the money, for that matter. Once the 5D3 comes out you can probably sell the 17-55mm zoom (heresy, I know) and pick up a 5D2, which is amazing, for not much more than you'll get for the lens.
If you're not shooting at 100 or 200 ISO, get a tripod and a polarizer. I also personally don't mind water burning out if it's blurred from long shutter speeds.