The phone - It feels great. I personally chose the iPhone 7 over 7+ because of the size. Moving from iPhone 5 to 7 was absolutely no downer in terms of size, the size suited me well. Specifications wise - still exploring. ; )
What's evidently different - the home button ( the number 3 pressure press feels quite weird. Chose number 1 option) and yes of course the no-audio jack. So you do receive wired earphones better known as lightning compatible earphones. The end of your wired earphones connect to the slot of the lightning connector.