I know I'm a low time nobody by comparison to some of the real pilots out on this forum, but, well, ... thems fightin words.

I think of the Model four more like an MG sports car with wings. I have had both.
I have a few hours in a Model 7. About 15 I think. I have about 70 hours in a highly modified super cub and about 750 hours in a Model IV Kitfox.
I'll take the IV for performance any day of the week, but with the caveat that you actually compare mission profile with aircraft profile.

The seven is a highly modifiable and configurable aircraft with about six different ways from Sunday to be outfitted. Stol wings, standard wings, speedster wings skis, floats, wheels, taildragger, trigear, turbo, Rotax, continental, etc.

The IV, out of the box has a couple engines for options, Rotax or Rotax, or maybe a frankenstein version of power plants that outweigh the original CG hopes of the design, Its 200 lbs lighter and actually a little narrower than the other ships and it is a simpler aircraft in fit, finish and overall construction. It's my plane of choice because of overall power to weight ratio in its standard configuration, Carries its own weight in gross, flies as fast as a 100 horse SS7 of the same horsepower and its ... wait for it ... cheaper.
If I had a 100k to drop on a plane, I WOULD buy a Seven and put it in the hangar WITH my IV. Then, and only then would I actually be King.
So, ... no. You can't fly like Palmer in a IV. But you can fly like Franklin, and you can fly like crazy.