Well... you've covered the only two folders that I currently carry with Emerson and Paras. My Emerson is a mini-CQC15, but I have both generations of Paras in use. I've had several different ZTs as well. I still have and carry my mini-CQC15, but not the ZTs. The ZTs had no issues at all as far as F&F and they were as sharp O-O-B as any production knife I've ever had. But they are way too overbuilt for my taste. They do indeed carry like bricks and they "feel" much less secure in my medium-sized hands than either my Emerson or my Spydercos do. My mini-CQC15 is tougher than I'll ever need a folder to be, it's very ergonomic when I use it, and it carries almost as easily as my Paramilitaries do.
As far as which Emerson to get, either one will represent Emerson's quality and function very well. The things to consider will probably be the handle length (for your hand) and the blade style. The 7s will most likely be tanto blades while the Horseman has that nice curving belly. I'm not a fan of tantos, personally. Had a few and I've never been able to get used to handling that sharp transition from edge to tip on American tantos. The mini-15 handles that transition nicely by combining a slight recurve on the cutting length of the blade with a tanto type tip. That lets me use prior experience and sharpening skill and my current kit (Sharpmaker and strops) to keep the mini-15 at the level of sharpness that I like for an EDC folder.
BTW, if you haven't had the experience of maintaining an Emerson edge, I think you'll be pleasantly surprised. Emerson's HT gives the 154CM a really nice combination of toughness and edge holding, just about perfect for what I like and use. The single sharpened side of both the chisel ground and the V-ground blades makes touch-ups a breeze. My Emersons have all responded well to a Sharpmaker rod at 40 degrees followed by a light stropping. Often, a strop is all the attention the edge needs after use.
Good luck with your choice. Let us know how you like it once you've used it for a while.