If it is indeed 7 degrees of stretch then you are borderline.

The way you properly test the stretch is to bring the #1 piston to TDC, compression stroke to check the crank mark. This procedure eliminates any wear in the dampener pulley.

You can't really check for TDC using the cam marks due to it turning at a different speed (1/2) than the crank and it doesn't take much to throw a 10 degree (only a 5 degree variance on the cam gear or 1/72nd of a turn) false reading.

Bring the piston to TDC, check the crank mark and then check the cam marks. Then you rotate the engine (clockwise from the front) to align the cam marks, read the crank pulley and subtract any variance you may have found from the TDC position.