I just had a rear tire put on 7 days ago and was curious so had to check. Mine is a '08 SG with 50,400 miles and I have (10) 1/40z or 7 gm weights on the rear with a stock 16" rim with the Dunlop MUB8516 tire. The front has the Renegade 18" Aspen Elite with the Dunlop 408 with (5) of the 1/4oz or 7 gm weights. After reading the 1st couple threads and realizing the amount of weights I had, I took the bike out doing 90+ on the freeway and 80+ in a good turn and can honestly say the bike feels great with no shimmer, wobble, etc.. I rode several different speeds (fast and slow) hands free and straight as an arrow.
When the OP said he had 7 wheel weights on the rim, I did not realize he meant they were all still stuck together. That would not be considered 7 weights. It's (1) weight that weights 1.75 oz. I'm thinking he had 7 independent weights at different positions on the tire in an attempt to dynamically balance a tire. There is a world of difference between a dynamic and static balance procedure. Sorry my mistake...
Little bit of confusion here with stick on weights. Having 10 UN-CUT 1/4 oz weights would be considered to be (1) 2.5 oz weight and not 10 1/4 oz weights. In your case what you really should have is (2) 1.25 oz weights,,,one on each side of the tire making a TOTAL weight of 2.5 oz.
Doing that would reduce the chances of creating a "dynamic" imbalance while trying to reduce a "static" imbalance.
Unless the weights are SPOKE weights, you should divide the weight required in two and place one on EACH SIDE of the rim, because placing all the weight on one side of the rim can create a dynamic imbalance. Spoke weights are already in the center-line of the rim so you can't (don't need) to divide them in half.
Sorry for miss-understanding what the OP meant about having 7 weights on his rim. Seven 1/4 weights IN ONE SPOT is just 1.75 oz of imbalance which is not too too bad. Still a little high for a front tire and probably could be reduced with matching red dot of tire to the rim first, but none the less,, not too too bad.
1.75 oz for a REAR tire (3 on one side, 4 on other) is OK.