Well, although I think the RB26 is a great moter... I'm not sure it would be a very good swap for a 7.
Steel and J Spec made some good points. I'd prefer a 3 rotor Cosmo ass kicker (in an RX7 anyway) And the RB is definatly heaver, now how much this would effect the handeling, I'm not sure, but there would be
some difference. Also the RX7 being FR, it would shift the center of mass forward and take traction away from the rear tires.
Oh, and a slight correction on the HP of an RB. Dyno tests have proven time and time agian that all the RB26DETTS from R32-R34 model GTRs throw around 300-310 hp