I am looking to buy a Canon 70-200 f/2.8 for my 7D. This lens will ONLY be used on monopod or tripod. For my use is there any benefit to getting the IS version? There is a big price difference between both and I am watching my $'s.
If it will be poised on a good, professional quality tripod, then you should be OK with the non IS version. You'll need sandbags in a stiff breeze.
If you're shooting documentaries, or grabbing and going all the time with it, you might prefer the IS. If you search this section for IS vs. non-IS there's some good footage that illustrates the difference, with the very lens you're seeking, I believe.
Also, for your next project, you may consider renting the Canon 70-200 f/2.8 IS lens, and then trying with the IS turned on and off. That's a safe way to ensure you don't make a regrettable decision. borrowlenses.com or others are great, for less than $100 for a week you can't go wrong.