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There is about half an inch to take off most of the top. It's only softwood so the No.7, properly sharpened shouldn't take too long. I reckon I took nearly as much off with a No.4 when totally ruining it, so shouldn't be too bad. Just annoyed that I have to at all. Might mean it screws up the vice placement, which may require starting from scratch anyway. But it's a lot of timber to scrap if so.
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A no 7 isn't ideal for stock removal. The weight of them combined with the friction on a sole that long (even a one that is well waxed or oiled) makes it incredibly tiring to use them for more than a couple of passes. If you want to remove that much material then a scrub plane or a router sled are much better options.
The question is, how long do you think it'll take to sand it flat if theres a lot of drop off?