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Comparing bullets with similar sectional densities (140-165/160-180 grn) the 2 at 500 yds the 7mm has an additional 100 ft/lbs of energy with nearly an inch less drop and 1-3 inches less wind drift (10 mph).
I'm the type that likes improvements or advantages however minor. For long range shooting I'd chose the 7mm. For anything less I'd probably chose the 30-06 as it's a little cheaper and a little lighter on the shoulder. Not to mention it puts a little bit bigger/heavier bullet into your game.
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