A buddy of mine hunts with the 7mm mag and I use a ' 06 (30 that is). I think the 7mm is a little big for smaller animals like deer, especially whitetail. It is very adequate for elk though as is the ' 06. And since that is our primary prey it works for both of us.
I enjoy the heck out of my -06 and one big advantage is ammo cost and availability. A few years ago we went plinking around and both ran out of ammo before we ran out of fun. We stopped at a local southern Utah sporting goods store to reload, and his ammo cost nearly twice what mine did and he got one of the last boxes. If you reload it isn' t that big of a deal but if you don' t it can get costly if you shoot a lot.