Heresy mode: On
I see no reason why the images wouldn't be considerably better in every way. Not least because the FS7 is running a sensor designed years if not a decade ago
Heresy mode: Off
This doesn't play a as large role as it would imply. The industry standard and benchmark, the ARRI Alexa, runs on an over 7 years old sensor, which actually goes back to the D20 sensor released in 2005. Since the current sensor is an evolution of that we could say it's a decade old design. The F35, also mentioned in this thread, produces one the best images and runs on a sensor which is at least 13 years old. The Panavision Genesis, which uses the same sensor was released in 2004.
The reason for this is we have long reached and passed the point of diminishing returns.