In my view anything under 8 mins shows a good level of overall fitness, something most of the population could not hope to achieve. So 7-38 is very decent, and needs a concerted effort to reach that level.
7-04 was the best I could achieve without dedicating a huge portion of training time towards it.
As a rough guess with no knowledge behind it, I'd say 7-00 would be roughly equivalent to a 40 minute 10km, or a 20 minute 5km, in running terms.
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