Interesting take on it Advance, what would be required to get an aircraft onto the VH experimental register - similar situation to a homebuilt imported from overseas? Must say my admittedly uneducated take on it was that this was going to be a massive headache to achieve.
As far as the main question goes, I'm in two minds, whilst RA Aus haven't done themselves any favours by registering something which almost certainly wouldn't withstand scrutiny, in the greater scheme of things why shouldn't an RV 7 be operated as a recreational aircraft? It is less demanding to fly than many of the aircraft that are and quite possibly easier to maintain as well, at any rate plenty of them are owner maintained and don't seem to be falling out of the sky.