Yep, your standard RV, VFR with salvaged Avionics and no autopilot.
Add
10k to install a GNS430W
3k to add a SL40
3k to add a GTX327
10k to have a DigiflightII installed
10k to get the Hartzell CS prop + governor
.... and suddenly you are not so far from that dolled up RV7. AND someoene else has already done the work for you and you don't have re-cut the panel and deal with suboptimal placement of components in a retrofit situation.
The difference in price reflects the difference in equipment. Sure, if you want a VFR RV to do loop-di-loops on saturday afternoon, the second one is the better choice. If you want an IFR equipped travel plane and you have the money to invest, the first one sure sounds like the better investment.
...shuffles back to work to make the money to buy plane#1.....