Simply stated the terrapin 05 is about the best rangefinder available in a somewhat affordable package...however for a do all hunting rangefinder that will adjust for enviromental conditions and give the shooter instant come ups- the g7 is pretty un beatable.
if your looking for an elr beyond 2000 rangefinder the terrapin is it
I used the Zeiss rangefinder for a year and found it lacking on small targets at longer ranges. I was frustrated that it couldn't range a coyote in a wide open field at much over 400 yards. I ended up selling it and replaced it with a Vectronix Terrapin. Best money I ever spent. It will easily range a coyote at 1200+ yards. I've never used the G7 so I can't give you an informed opinion on that one.
If hunting is your main use the g7 is pretty damn hard to beat. With the ability to give you accurate come ups for 5 diffrent rifles and adjust for enviromental conditions and angle of shot it is pretty sweet. We have been using them in our classes and hunting and they work as advertised. You need to practice using the rangefinder and its diffrent ranging modes to get correct and honest readings, but if you put in the time behind it you will be really happy with the results.
Now if elr shooting or pure ranging quality is what your looking for you can't beat the terrapins.