I did not see any Model 7's in .223 on Guns International, do you have a link?
Model 7 7-08 wood stock - $795
Most of the other model 7's although synthetic are $795.
I would prefer the 7mm-08 in a model 7 over a 223 mostly because I consider the model 7 a carry rifle and it would be a perfect deer rifle. Others may prefer the 223 for their reasons.