I'd like to see how they're gonna skirt around the issue of Shepard.
'Joining the Alliance's top tier soldier unit? Fantastic. First rule, we don't talk about Space Jesus. Being the most famous recruit and saving/dooming an entire galaxy from/to robot Cthulhus o' doom, while being the poster boy for N7 the entire trilogy* doesn't mean **** son.'
*Shepard was the face of N7. Looking back on the trilogy, when asked 'what does N7 mean to you?', if anybody answers something other than Shepard, they're talking oot their arse. 'Exploration', 'Unity' and 'Being a part of something bigger' being a few of my favourite examples of both projection of somebodys feelings of ME as a whole, and not actually answering the N7 question at all. Damn, this little sidenote has become longer than the actual post!
Since I'm a big lover of settings and lore, N7 really is much bigger than Shepard, for me, but I can definitely agree that for most people N7 pretty much equals Shepard. N7 could quickly become bigger than Shepard, though, if we get to play another N7. It's synonymous with Shepard right now because he/she is the only N7 whom we've played, to this point.
If the next lead is an N7, the label will have grown way past Shepard by the halfway point of MEA. By then, we'll be pretty invested in the new story and characters, assuming they're as good as usual.