Well, I installed Fedora 7 a couple of days ago... and I gotta say, it looks nice! I used the Live KDE spin and did an install from there.... as usual, mostly painless with a few issues tossed in to keep me on my toes.
The biggest issue I ran into was the fact that there are no current ATI drivers for Fedora 7. While the built in radeon drivers are fine for a single monitor non-accelerated setup, my dual monitor setup was a no-go. My solution was to ditch the ATI card in favour of an nvidia GeForce 6600 GT.
Another issue I ran into was broken firewire. It seems to match this bug report: https://bugzilla.redhat.com/bugzilla/show_bug.cgi?id=240771
Other than that, everything was smooth. There was a great how to at howtoforge: http://www.howtoforge.com/the_perfect_desktop_fedora7 that will get you fully up to speed in no time.
I also installed the Tango Icons and am using the Liberation fonts as default across the board. The fonts and icons look great. Took me a bit to rebuild the custom theme I had going but all in all I'm extremely happy with the distro.