If the iAudio 7 is like the iAudio U3, I can fill in a couple things:

The FM is outstanding. Locks on clean and clear, sounds great.

IIRC, you can change the FF skip length from 10-seconds-per-click (or 2 seconds?) up to 60-seconds-per-click (or 120?), and the higher FF rate is a lifesaver for long podcasts.

Sound is very good. (I use .ogg vorbis usually)

I find the track navigation confusing still.

At 1.15 ounces, the U3 is wonderfully tiny and solidly built.