We play a lot of games in this household. Like a lot. We're lucky that the 7 year-old is actually able to play games meant for much older kids - we aren't doomed to play excessive amounts of Candyland or Chutes and Ladders.
Catan Junior is the simplified version of Settlers of Catan, the international hit game. The Junior version removes some of the more involved game mechanics like trading resources with other players. Without that key part of the game this version is much easier for kids to play but it does lose some of it's interest for adults. But as far as kids games go, this one is pretty much a winner. Replay factor is high, there is slight educational value (economic concepts, math), and the games are fairly quick (who has 4 hours for Monopoly).
I'd recommend Catan Junior to others, in fact I did recommend it to Tim who now has the game too. Catan Junior gets a score of 8 out of 10.