T8 or T11 might work better on a 7 wt. I use a 30' T8 head on my 6 wt for deep dredging for smallmouth and walleye. Amount of mono isn't critical, but I like to have at least 2x or 3x the distance of a normal cast so if I get hung up or the mono gets abraded or nicked I can do a quick change in the field. Besides, the head/mono combo doesn't take up much space so you can either load a spool with backing or add extra mono. If you want to try real deep prospecting for lakers or whetever, it'll sink as far as you want to wait...
A stripping basket with 2-3" of water in the bottom is CRITICAL for mono management, otherwise you'll wind up with it tangling everywhere. The water keeps it lubricated and supple, and makes it shoot easier/longer. Don't try to get more than a couple of feet of mono out of the tiptop before you shoot; it doesn't do you any good. Make sure your knots are low profile and/or coated with pliobond to allow them to go through the guides more smoothly, if they get hung on your cast you can shoot the tip section right off your rod! (insert chuckle here)
There's a great intro to using heads on Dan Blanton's bulletin board, that's well worth a read.
One thing that isn't often discussed it that doing a water haul on both your forward and backcast reduces the strain on your rod, and keeps the line low and out of the air so in windy conditions it's less likely to whack you across the head or impale your fly somewhere you don't want it (and will also cast further). You don't want to get hit, the tungsten will leave a welt!
I've had a hard time finding the Sufix Elite in #30 locally, but I just picked up a spool of Sufix Supreme. I'll let y'all know how it compares.