I'm not sure if you are still looking for information, I seem to bit a little late to the party. I owned the Monitor 7v2 for 4 years, and currently own the Studio 60v2. I also performed a double blind A/B test between my Studio 60v2 and the Axiom M60 last winter.
First to your question, in my opinion, the Axiom M60 will easily outperform the Monitor 7. The Monitor 7 was a good speaker, and was in my opinion a great value, but it is not nearly as accurate as the Axiom.
In my double blind A/B, myself and the 3 others in the room agreed that both were very good speakers. After we tallied the score, speaker B won for me (turned out to be the Paradigm), while the others scored the Axiom as the favorite. The term that is often used to describe the two speakers is 'similarly good'. The Studio 60 is more expensive, so the decision would come down to individual preference. But going back to the original question, if I had to choose between the Axiom M60 and the Paradigm Monitor 7, I’d take the Axiom in a heartbeat.
As for the comment of the real wood on the Paradigm, as someone else pointed out, currently only the Signature series offer real wood.

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I also performed a double blind A/B test between my Studio 60v2 and the Axiom M60 last winter.

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El G, this is one test i wish i had the chance to do myself. Alan has drawn several strong comparisons between the Studio line and Axioms in the past often commenting on how similar they are.
One thing i can say for sure, every speaker i have A/B'd with the M60s has been distinctly different, but all very good.

Chess, I debated between the Studio 60 and Axiom M60 for quite a while before going with the Paradigms. When the opportunity arose a few months later to double blind A/B the two speakers, I packed up my Studio 60s and went on a road trip. Ian and Joe from Axiom were on-hand, and they made the experience that much more enjoyable. It was great to chat about the results after the test with the designers and builders of the Axioms. Although I indicated the two speakers were similarly good, there was definitely a noticeable difference in sound when doing a direct A/B. The Axioms bass was deeper (surprising considering the smaller drivers), and the Paradigm had a much wider soundstage. The Axioms were also substantially more efficient, and had to be turned way down to match levels with the Paradigms. Following the test, my colleague immediately put in an order for the Axiom M60, and I soon purchased a set of QS8s.