I was using my M7 8x30s yesterday, and thinking to myself, that, whilst I have binoculars from Zeiss and Swarovski, and have owned Leica binoculars in the past, for the size, weight, and the money, the little M7 gives a very good account of itself.
As others have said, it's sharp and clear (not the ultimate, but good enough for most purposes), light and compact, and for the price it also feels rugged enough that I don't feel I have to "baby" it. I put mine in a lightly padded case, and it goes in my rucsack and I cycle to work with it pretty much every working day - for when I go for a birding walk each lunchtime. I've had mine for a while now, and it's holding up just fine - the focus is as smooth and fine and backlash-free as ever. Everything just works.
There are slight downsides - eye positioning is a little bit picky, but you soon learn it. Performance against the light isn't the best - a tendency to a bit of flare - but eye positioning has a role to play here too.
Yesterday I was thinking to myself that if for some reason I could from now on only use my M7 8x30s (and none of the other fine binoculars available) I would still enjoy using them, I would still enjoy the view through them, and I would still enjoy my birding.