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Welcome to the forum!
Biggest thing - do you want a 10" tablet that you pretty much have to carry everywhere, or do you want a 7" tablet that will just about fit in your pocket?
I love my 10" tablet, I think 7" is too small. I would go for 8-9, but I love my 10" for now. I know many people who bought a 10" then got a Nexus 7" love the smaller size and got rid of their tablet.
Also, keep in mind the MeMO has a microSD slot and the Nexus 7 does not.