The MC7 vs Splat answer probably depends on how much time and detail you spend fine tuning your recordings. If you spend a lot of time fidgeting with songs after recording then you probably should consider going with Platinum, which comes chock full of tools to help tweak the sound.
If you just record. set the volume levels, compress a bit, add a reverb, then print your final version you may be happier with MC7. MC7 has a set of simplified tools that do the job, but are a bit light on detailed settings. Easier to use, but you can't do quite as much.
Glen