John Hi,
Sorry to say that my experience is similar to Martin, I used both expensive and cheap link belts on my S7 to try and remove a clicking from the backgear gear assembly caused by wear in the locking pin. it did remove the noise but gave other issues which caused me to revert to the original belt in the end.
I found with the cheap type belt that they had to be extremely tight to provide a reliable drive. They also tended to stretch and needed links removing regularly in the first few weeks of running. In the end I was getting the belt as tight as I could with the countershaft in the drive position and then removing 1 or 2 links. This meant that the countershaft was under a good deal of load when running and I could see the bearings objecting if left like that for long.
The more expensive belt I have to say was very much better but still not perfect. It settled down fairly quickly and I only had to remove 1 link in the initial few days of use. I used it for several months without problem but when I eventually decided to adjust the spindle bearings I changed back to the vee belt which is still on the machine today. I just didn't feel confident with it and worried about the long term effects on the countershaft bearings and the pully profile, both reflectons of me rather than the belt I expect.
Another thing strikes me as you say your S7 has a poly vee primary drive, it must be a later model and I see that Myford list a different belt for later machines. It might be just the length difference on the big bore headstock but you might want to check that the pully profile is the same as the older type S7.
I guess my experience must be slightly different that the norm as many people seem happy with the link belts and expound the advantages with gusto. So perhaps my expensive belt wasn't the right type of expensive belt, i'm sorry to say that I cannot remember the actual maker but five years ago it was well over £25.
Best regards
Keith