The versatility of being able to switch from still to video mode is a great feature to have. Images can be shot at different resolutions including both JPEG and RAW, and video can be shot at various frame rates. In video mode, the 7D can shoot 1080P at 24 and 30 fps as well as 720P at 24, 30, and, for slow-motion, 60 fps.
The image is stunning. The only times it suffers visually is if you try to pull off wild camera moves. And, as mentioned before, focus racks or zooms are much more touchy due to the way still lenses are constructed. While this is definitely not a camera for all occasions, it is a great option for most low-budget filmmakers.
The 7D is all about value. Very few cost-comparable cameras can compete with the 7D's pure image quality. The quirks of operation, then, can be looked at as a necessary evil to get such a good picture for such a low cost.
There was a lot of talk about the 7D being a "RED Killer." And while that might be a bit of an overstatement, I have been able to cut spots that use both REDOne and 7D footage, with the two cameras intercut seamlessly (with a little color correction, of course).
The cost of high-quality filmic images just dropped drastically with this camera, and you won't regret buying it. At the same time, though, there is part of me that says "hold off." There are rumors of Canon putting the guts of this camera in a more user-friendly body with better audio options and a more powerful processor that eliminates the "jello effect." And if they can do that and keep the price tag under five grand, all my dreams will have come to fruition.