Admittedly, there's not much in terms of amazing new tools or features, but I do still recommend it. Most of it boils down to enabling faster workflow.
Yes, there is the smart bandaid tool (version 7 does have the band aid tool, called the healing tool), but you can't use it in all situations. I still use the regular healing tool, and more often than either of those, the clone tool.
For me, the biggest nuisance about version 7 is that you cannot move beyond the canvas, when in full screen mode. In CS and CS2, you can pan the image around beyond the screen size, which enables you to bring the corners of an image to the center of the screen. Another bonus is, you can move photos to your other monitor in a dual monitor set up, and have an image on each monitor if you want.
There is the addition of smart shapes, (I think that's what they are called) which give you a higher quality resample when free transforming objects.
If you shoot lots of raw, and like to process them quickly and accurately, Adobe Bridge is a great tool. You can quickly and easily batch process an entire folder of raws, and keep working while it's doing it.
16 bit support is another key feature, if you are a quality fanatic, and like to get the absolute most from your raw files.
I can't think of any other major differences right now. I'm sure more will pop into my mind. Like all versions of Photoshop have been, it is a powerful tool, well worth it's pricetag.