In conclusion I'll be using Netscape 7 in a limited way as I like the mail client's interface with AOL; the browser is fine but if you want Netscape for the browser and AOL mail isn't important for you the latest stable build of Mozilla (1.1 I think) will be a better bet. As Mozilla is not hindered with AOL's marketing machine, no pop-ups, or net2phone and other blatant adware based bookmarks. Netscape 7 is a good browser. Is it competition for IE... oh yes, the tabbed interface is a killer feature, but is a touch slow rendering pages for my tastes, and as always anything with the AOL taint has ads brimming all over it.
So, vitriol and slights aside AOL's Netscape 7 is a worthwhile download, if you like Netscape browsers or you're an AOL user. For the rest I'd have a long look at mozilla.