Because you are going in October during F&W the IllumiNations time varies. On Friday and Saturday nights the fireworks are at 10 PM, but the rest of the week it will be at 9 PM.
For a 10 PM show, the 7:00 reservation will be too early. R&C tends to be one of the faster serving restaurants once you are seated and it would be hard to draw out the meal to 3 hours. Typically we found that a 3 course meal can be finished in about 1 hour, but add in pre or post dinner drinks and wait time to be seated and you should be okay for 9:00 show.
The viewing area is adjacent to the patio, but it is primarily for those who are dining during IllumiNations. It isn't a very large area so unlike Cali Grill which has large viewing decks and will let early evening diners come back with their receipt, this is less likely to happen at R&C. I'd keep checking online for a little later reservation especially if fireworks are at 10 PM.