Nice! I'd be fun to have one of each, and at various times, I've thought about getting a P7, or a 2nd gen V7 vintage, or a V7 fretless, but I need to stand pat with the 3 I have: M7 five-string with a finish they don't make anymore, V7 alder/rosewood, and V7 five-string ash/maple.
I hadn't been playing the M7 much in the last 6-12 months --sometimes you kind of "forget" that they're awesome and wander on to play others more, then you play them again and remember how great they are and wonder how you could ever have moved it out of the rotation. That's me, in the last 2-3 weeks.
A lot of people compare their V7's to American Fenders, and that's a valid comparison (though not everyone concurs of course). I'll compare the M7 5 to the MTD Z5, which is $1400 retail. I have a Z6 and thus can do a fairly direct comparison, and the similarities are many, including scale length, pickup selection, tone, options, etc. The MTD Z5 or Z6 are fine instruments... so's the Sire M7. Sires aren't perfect and there are always small compromises to be made to keep the price low, but dollar-for-dollar, there's no better value in basses than Sire.
Side note: would be nice to have a maple board as an option on an M7. Maybe since the M3 is gone, maybe they can give the M7 the board option available on the less-expensive M2. That would require extra tooling for them since they can't just use M2 necks-- M2's arr 34" scale, M7's are 35".