AFAIK Ampeg does not publish the specs for 8 ohm operation. Usually solid state amp make more power as the impedance goes down, so this is a good assumption. I will assume the amp makes 350W at 8 ohms. I do not know for sure if this is correct, but it's the way many class D amps work.
Power by itself does not tell you have loud the rig will play. Basically when the power doubles, the volume goes up by 3dB, which is a small but noticeable difference.
You also need to consider the sensitivity rating of the speaker(s). Let's assume we have a VB-112 with a Sensitivity rating of 99dB 1W/1m. This means when 1 Watt is applied you measure 99dB at a distance of 1 meter from the driver.
Let's assume the amp makes 350W with one 8 ohm cab. The VB-112 is rated for 250W AES so usable power is only 250W. You can can estimate the SPL with the 3dB rule.
1W = 99dB
2W = 102dB
4W = 105dB
8W = 108dB
16W = 111dB
32W = 114dB
64W = 117dB
128W = 120dB
256W = 123dB*
* The usable power is slightly less than 256W, so available SPL is bit lower than 123dB.
You can also calculate the SPL if you know the 1W/1m sensitivity rating and the useable power.
Formula: Calculated SPL = 10Log(Usable Power) + Sensitivity
Calculated SPL = 10Log(250) + 99 = ~122.98dB
If you add a matching cab, it's normally going to be connected in parallel. So the combined impedance will be 1/2, combined power handling will be double, and combined sensitivity will be +3dB. So a pair of DB-112s will present a 4 ohm load, handle 500W, and have a sensitivity of ~102dB 1W/1m
If usable power doubles the you get +3dB from doubling the power in addition to the +3dB from the increase in sensitivity.
Calculated SPL for two cabs at 500W
- 10Log(500) + 102 = ~128.99dB
To use the full power of the V7, you need a pair of VB-212 cabs. These are 8 ohm cabs with a 500W power rating and 101dB 1W/1m Sensitivity. A pair of these cabs will present a 4 ohm load, so the amp will be able to make 700W. Combined power handling is 1000W, so to cabs can use all of the power. Combined Sensitivity is 105dB 1W/1m
Calculated SPL = 10Log(700) + 105-4 = 132.45dB.
The drivers will experience some power compression as they approach full power, so real world results will be a bit lower. But a V7 with a pair of VB-212s should be a pretty potent rig.
Ref for cab specs (see p. 6:
https://ampeg.com/data/6/0a020a4168b1651f29a4c0f0a/application/pdf/Venture Cabs Owner's Manual - English .pdf