Thanks for the reply to my OP. I was under the impression that ANY return could be refurbed, including trade-ins. And supposed there are alot of 7D trade-ins lately given the deals on the 5DII and the new 5DIII. But if its just 30-day returns, demos etc (all with light use) then that eases my concerns.
Canon does not take trade-ins. Although dealers may take trade-ins, they cannot return them to Canon. Dealers will sell the lenses as used, or if they are broken, they likely will not take them in trade without subtracting the repair cost, in which case, they are almost worthless to a dealer unless its a rare or valuable Camera or lens.
Canon does have a 14 day return policy for refurbs, so if its not up to expectations, you can return it. The Bodies and Lenses I've bought looked and worked like new, and never had a problem.