The N7 has a 22oz fuel tank. I run the MOAS magnet and it will help with the confidence going deep into the tank for sure!
Flight times are very subjective. Depending on motor, head shims, tune, fuel, weather variables(heat, humidity, etc), flight style, etc are all examples of things that will effect flight time. The two biggest being motor tune and flight style (in my opinion).
I run a 91HZ-R Speed Black with VP PowerMaster 30% and the extra .2 shim in the head. My flight style is sport, big air with some learning 3D in the middle. I can run 7 minutes easy, 8 with some auto practice.
I know guys with 105s and 20% fuel getting 7 minutes too.
I would recommend not getting too caught up in the number though. Trying to get every last second out of the motor is great, but it is very easy to tune yourself into a corner and possibly burn up a motor. If you are flying hard 3D and maxing the engine full time, 5-6 minutes is very respectable in my books!