We always start as soon as the parks are open and hit the headliner rides in whatever park we're in. By lunch, we're getting tired, so we eat, maybe take in a show, depending where we are, and then head to the hotel. One of the nicest things about a 7 day pass is getting to rest in the afternoon. At night we go to whatever park we want to see the night time show or fireworks.
We treat it like 14 separate "days". Usually:
1 morning at AK
2 mornings at MK
2 mornings at Epcot
1 afternoon at AK (but it does close early so your rest is short that day)
2 evenings at MK
2 evenings at Epcot
Then we take a "day off' and keep an extra day on our tickets just so we know we can go back.
We usually end up with one crazy long day of park hopping to grab one more snack here or see one more show there.
Edited - oops forgot MGM - can you tell it isn't my favorite? Still, we'd have a morning there and an evening there. Oops there went the day off. Oh well. We'd get those tickets extended to 10 day passes, just to be sure we can come back....