That's a great length rod, easy to reach around your boat, and easy to get long casts sitting down.
The line and lure weight is correct for a wide range of fishing, the reel capacity fits right in the middle of the rod rating.
I have a MH Loomis GL2 that's a foot longer, and I've fished since the 90s. It's been a real workhorse, will horse a slot red around, and has caught kings and big jacks, including lifting them at the end. It's matched with the same age Penn 4400SS. I've loaned the combo to friends on two Estes trips, and they both flipped over it.
I've added ML in both bait and spinning rods, and really enjoy fishing them inshore - 12-lb fluro is the top end of the line rating on these rods, but they're lighter in hand, zing 1/4-oz (TSL grasswalker), will also fish 1/8 oz (even if they're not rated that low), won't exactly horse slot reds, but will definitely land them - and the ML do have enough butt to stop a red from going under your boat when you don't want it to. I also like my rods in different lengths, 7' has a little more control for close casting, but IMO if you only get one rod, 7-1/2' is a better choice all around. Longer rods also give you leverage advantage on fish.
All that said, MH will still cast 1/4 oz just as far as you'd ever want to, and has the backbone to take a 2-oz spider weight to the surf.
St. Croix has always made great rods since the glass days. Many high-dollar rods used their blanks, including Russ Peak and Vince Cummings. Here's an old fly rod listed on this website: https://grauersfineflytackle.com/about/
7 1/2′ (blank), P447, 2 pc, marked for 6/7 line, smooth casting 4/5 wgt rod, owners name and Pasadena California on butt section in black script which is difficult to see, all cork cigar grip and reel seat with alum C&R, original bag, non original tube, dark brown blank, dark brown wraps, spigot ferrule, a very smooth casting classic rod, very difficult rod to find even in a blank—$500
I have the same St. Croix blank in a Vince Cummings Water Witch, and it's an amazing fly rod, will fish a 3-wt line as a perfect dry fly rod, progressive mid-weight, and becomes a wet fly rod with the 6- or 7-wt line it's rated for.