A 7wt may be ok for flinging streamers on the Bow, but for all the trout fishin' I've done I've used a 5 or 6wt. I don't think you that you can have too much rod. If the price is right and you're comfortable casting, go for it! Eventually you're going to buy a new rod, and another, and probably another anyways.
With that long 7wt you could probably handle pike that you can catch in some of the lakes, too.

Cheers,
Paul