I have 2 M7's, a 7-08 and a 260. Both are the old 18.5 inch barrel models.
I got the 7-08 a lonnnnng time ago, and it didn't shoot very well at first. That old stock style was terrible! I put a synthetic stock on it, still the only rifle I own that has one, and bedded the action. After that it shot amazingly well!
It shot factory loads so well in fact, that I never felt the need to handload 140 gr. bullets for it.
I bought the 260 a few years ago and it was well used and abused. But I wanted a M7 action for a 250 Savage I've hungered for and the price was very reasonable.
The 260's accuracy wasn't steller either, but then I haven't spent much time on load development for it since it will be rebarreled. 120 gr. bullets at around 2600 fps group into about 1 3/4 + inches at 100. I believe some of the reason was the poor fit of the youth stock it came with. I have since replaced that with a factory classic stock which is a big improvement in fit. I won't bed it since I will use that stock with the rebarreled action, but I just feel it will be an improvement over the original!
I'll know for sure after my next trip to the range!
Gotta love those M7's!