Seeing as how I mainly play melodic metal/progressive metal (ie, Evergrey, Inflames, Nocturnal Rites, Children of bodom, Dream Theater, Nevermore) this guitar is perfect for me, which is why I bought it.
I play this guitar through the Peavey 5150 block letter head and 5150 straight cabinet. My effects include the Dimebag Darrel (RIP) wah, the korg stage tuner, boss NS-2, morely volume, Ibanez Delay, BF-3 Flanger, and small clone chorus. The 707 EMGs on this guitar are amazing. Very VERY full sound. Half the time I play it using the bridge and neck pickups at the same time since almost no high end is lost when not using only the bride PUP.
I play a wide variety of sounds, ranging from pummeling speed metal and breakdowns, to finger picking clean runs as well as using effects. The guitar (and especially the pickups) handle it all. Insane pinch harmonics on the bridge pup, and VERY clean (almost acoustic guitar) sounds on the neck pup. One warning is that the pickups are extremely high output, so I personally turn the volume down on the neck pickup so as not to overdrive the horrible clean channel of my 5150.
Will this guitar withstand live playing? I'm actually afraid that the thing's going to get up on it's own and start harming people. I would use thing without a backup definitely, but it's always wise to have a backup of everything. The stap buttons are ultra solid, but if you want to protect your axe, do yourself a favor and go buy a Dimarzio locking strap, those are the only straps I use. The finish is great, but it's very high gloss, therefore if you DO play this thing, you will see scratches. First spot you might see is where a pick guard usually is, due to ring and pinky finger nails hitting there, but hey it's helped my technique. I try to keep my fingers off the guitar at all times now because I don't want to mess up the finish. Where you loop your cable through the strap you will definitely see wear........but that's with any guitar. All in all, the guitar is built like "and feels like" a tank.
I've been playing for over 6 years and I'm currently in two bands and I play live. Like I said, I like everything from Inflames, to Alice in chains and STP and TOOL, so this guitar really does cover all the music I'm trying to play. If there's anything at fault sound quality wise, it's the clean channel of my 5150. The only complaint about this guitar is that I wish it had the coil tap like the 007 series.
My final words are this, I love this guitar, it's a great weapon to have in your arsenal if you play heavy music and wish to have a 7 string. My cautions are that the neck is NOT small, and the strings do NOT feel loose. If you want to delve into the 7-string realm, but you're puny girly man fingers and back aren't ready to handle the fury of this guitar, I highly suggest tryin out the schecter 007 guitars. They are MUCH lighter, have a shorter scale length neck, and have a coil tap for clean guitar parts. But I MOST highly recommend that you try out a number of 7 string guitars before you buy one. You really have to pick one that is very comfortable to your own hands and ears.