The M7T from REDS is based on a Picco engine in the sense that the only thing they have in common is the Bore/Stroke ratio. The rest is different and better on the REDS M7T as fare as I can see.

Piston/sleeve has 7+3 ports on the M7T, the Torque 7+2
M7T Sleeve has tear drops
Crankshaft lightened, red putty inserted and its balanced
Combustion chamber lightened on the M7T
High quality ceramic rear bearing, not standard on the Picco´s
Over all weight is lighter on the M7T 310gr, the Torque 335gr

So it's a Picco on steroids... So it's actually closer and better to the Picco EDO modified engines....

If you ask me :-)