I have received a battery today. It states that it's 7.4v vs. 7.2v original Canon battery.
I put into Canon's charger and the charger has recongized it just fine. I left it fully charge, which took about 1.5 to 2 hours (I was doing something else, so didn't really pay attention to the charge time).
After that I have placed into my 7D and checked the battery info. Viola! Camera happily accepted the battery, told me it was fully charged and showed 3 green squares for the recharge perfomance.
After I registered the battery, I snapped a photo and the counter was incremented to 1.
In conclusion, I will continue using it and if there are any problems or fast degradation, I will make sure to post it here. I have a friend's wedding this weekend, where I'm planning to shoot (not a paid gig though, just for my own pleasure, also makes nice gifts). We'll see how it goes, but so far, so good.
If everyting goes fine with it, I'm planning on buying another one.
Cheers