Looking at this site regarding speed and lag
http://snapsort.com/compare/Canon_EOS_5D_Mark_II-vs-Canon_EOS_7D/detailed
Shoots significantly faster 8 fps vs 3.9 fps
Significantly less shutter lag 131 ms vs 206 ms
Barely any delay taking photos 131 ms shutter lag
The focus seems also seemed a little older
Significantly more cross-type focus points 19 vs 1
More focus points 19 vs 9
I could either get a 7D and 70-200 F2.8 or 5D2 and 70-200 F4 - but for me personally, it seemed the 7D was the better choice.
I don't break my neck over those comparison sites any more than I do over DXOMark, I prefer to compare real world usage. I'll bite anyway
FPS - Already been covered, the 7D wins no contest.
Lag - I thought you meant the system lags the way some Sony mirrorless cameras do with it locking up until it finishes processing whatever it's busy with. I was confused as I've never experienced that on my 5DMk2. A difference of 75ms is so small that human inconsistencies will more than make up the difference. Additionally, that's total lag including focus lag. Focus lag can be extremely inconsistent and will vary from lens to lens. The actual shutter lag, which is a lot more consistent, seems to be around 50ms to 80ms for both cameras from the quick bit of searching I've just done.
Focus points - I'm going to go against the grain and say it's subjective. Lots of AF points are a waste for me because I find that you spend too much time trying to select the correct focus point and it's far easier to use the center point only (which is either the most accurate and sensitive or part of a small group of the most accurate and sensitive AF points), lock focus and recompose (back button focus is king here). That's just me, I know many people would disagree.
The 70-200 on an APS-C sensor gives you an effective field of view of 112-320mm which has its ups and downs. I have a 70-300mm and can say with perfect honesty I've never taken a shot at 70mm (112mm effective) where I haven't wished I could zoom out slightly more but I was using the wrong lens at the time and had to make do. I don't have that issue with my 5DMk2.
You might think that with the way I'm bashing the 7D I absolutely hate it, but... 80 % of the time I'd rather have the 7D than the 5DMk2 as it suites me better. The higher framerate is great for wildlife photography, as is the greater reach at the long end of my 70-300mm (an effective 480mm). Wildlife accounts for most of my shots, so the camera would work for me. The want of a crop sensor and higher framerate are the reasons I'm contemplating a 50D.
However, when I'm doing landscapes, fine art, conceptual, astro, event or still life photography I'll take the 5DMk2 for the higher image quality, better ISO performance and wider field of view.