Depends on what you want as far as looks go. Mako was my first auto about three years ago, and I just got the Seiko 007 this weekend. If I could do it again, I would have just purchased the 007 from the get go. Again, that is hindsight because I got to experience both watches. But for sure the 007 is the better quality watch.
I have an Orient Mako, and it just may be my most favoritist watch. It is built like a tank, looks good in any setting, dresses up on leather and down on NATO straps, and is extremely versatile. If I had it to do over, I may get the Ray, however. Ultimately, it's the same watch so it comes down to which dial you like more. I also have a Mako XL (orange bezel) and I'm thinking about getting an XL in blue.
It is my understanding that the Mako has a design flaw: being with day/date display, there is that quick advance button for setting one of the two, ostensibly for dealing with different number of days. The sensible way to do it, such as the 2MWF 2427 and 2428 movements, is to make the quick advance pushbutton to advance the date; after all you never jump from a Monday to a Wednesday. But this pushbutton on an Orient movement advances the day instead. That is something worth considering, as part of your mechanical watch experience.
Seiko 7 is bigger which may be a plus/minus, depending on the wearer but in what other ways is the 7 superior to the Mako? From my limited experience and from what I've read as far as getting a more accurate movement out of the box, I'd take my chances with the Orient.
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