I've been having the same type of feeling and it has held me back from joining. The only difference is that my hang up was the free dining period rather than the 7 for 4. After really looking at the numbers, the DVC still appears to provide good value even in the case of the discounts. You shouldn't let the 7 for 4 bother you since it's not even the best deal when you look at the numbers. This is coming from a non-member (well, not yet!).
Thanks!
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I knew this was the place for the answers!! Guess now I will research the TIW card to see what places are included... Will I ever get off this 'puter?? 
The mickey bars are calling...
What if Disney offered us DVCers a 7 for 4 deal on just park admission?