Well you won't get 7x16 all the time. You will be able to get 4x16. I have included the specs below but I ordered one of the p6t7 because with the beta bios it seems to be a winner with that many PCIE, minus the slight latency increase.

3 x PCIe 2.0 x16 (@ x16 or x8)
3 x PCIe 2.0 x16 (@ x8)
1 x PCIe 2.0 x16 (@ x16)
*4 x PCIe 2.0 x16 or 7 x PCIe 2.0 ( 6:@x8, 1:@x16)