I've had a 7600F for many years now, I think since maybe 2000? Mostly the same, only has 10 mems.
Yes, the MW/LW works great. The ferrite rod has a sharp null. Picks up about the same as my much bigger CCRadio. The only problem I've had was the back case cracked from the strain of the whip antenna, so be careful there. I fixed it with some JB weld. Use the clip on wind-up wire when you can, or make up a wire with a plug for the external antenna jack. Remember that the whip isn't used on MW/LW anyway.
I have taken it all around the world, mostly on cruise ships. Listened to a lot of LW in Europe, and love scanning the MW band, or even FM, when passing time on those sea days, parked in a deck chair. I enjoyed listening to a jazz FM station while docked in St Petersburg. It sounds just fine with stereo headphones or small mp3 player speakers.
I keep hearing it may be discontinued and I think I will buy a new one before it is. Enjoy your new toy!