From what I'm reading over at XDA it is in pretty much the same stage as CM6.2 - BT, MMS, and camcorder don't work, as well as the camera
Other than that, everything else is working just like 6.2
We will see it can go without mms and camera for awhile I really don't use them not do it use bt I would rather use the wired jack in my car with voodoo control
If im not mistaken CM7 includes a kernel so it should flash over your current kernel without any problems. But im not sure of the voodoo or non-voodoo aspects of it, maybe someone more knowledgeable can answer this.
He states in the tweet that a voodoo kernel is included. The only thing you have to make sure of, when flashing back to another rom if you choose to do so, is to disable the lagfix if you're running a nonvoodoo kernel on your previous setup.
And reflash the nonvoodoo kernel but I must say this runs pretty well yes I miss my camera but man I'm getting better battery life than any ed-ec01 roms I've tried and I love the screen on off animations. Honestly if they could get camera mms this would be my rom of choice but I fear tonight I have to go back to ed01