I have just switched from 6.5 to 7.0; I do not see any "vast" improvements in the newer version. It's more like 6.5 with patches, and extra goodies in the goodies library (clip art stuff).
I am, however, experiencing a new set of unique problems to troubleshoot running 7.0. I'm seriously concerned that I may require a driver update to insure that Distiller 5.0 will transform PM's as well as it did for the previous version, but I am currently experiencing many 'glitches' in this distilling process.
I find Pagemaker 7.0 to be a halfhearted 'improvement' over its predecessor. At this stage, I wouldn't seriously recommend it to anyone over 6.5, because I don't think it will make your life that much better. Could even make it worse.