The 7D is a great bargain. AF is good, it is actually more feature ridden than the 5D2, underwater it is easier to shoot with small domes WA and macro. And it's about $800 cheaper than the 5D2.
Now the 5D2 has the ISO performance in video and stills, the picture (to me) looks better than the 7D at all ISO and the DOF is shallower with the FF sensor. I won't shoot 24fps straight off but use 30fps anyhow and slow it down to 24fps for underwater scenes, especially action shots where every happens so quickly. It also requires more expensive lenses to shoot and is generally more expensive for housings etc anyhow. The FF sensor is why you buy the 5D2, none of the other features are a match to the 7D (since it is a newer model). I've had to throw out a few lenses because of the 5D2 because it's just not sharp enough for the sensor. Which is a pity but that's life in the fast lane.
With the 7D uw, you have choice of TTL optical cables and sync cords.
That said, the 7D has overheated on me a few times shooting video. Dual Digic IV chips have a price in heat. Not the 1D4 though.