I think I want a N7 even more now.
HDMI monitors can run anywhere from $160 to $1000 depending on what you need and what you have for a budget. The Nexus 7 tablet comes in at $200 for the 8 GB model and $250 for the 16 GB model. Add to that the $8.99 DSLR Controller app, and a $3 USB OTG cable and you can use the 1280×800 IPS display on the Nexus 7 to monitor and control your Canon camera through the usb port.
After testing out the APP on the Canon t2i with magic lantern, Canon 7d, and 5d mark III, I can say that it works pretty well with the Nexus 7 tablet. There were some strange issues with the Canon 7d. I actually had to reboot the tablet before it would work with the 7d, but I think that might have been caused by changing between cameras.
The DSLR Controller is still in beta, so don't expect it to work perfectly, but overall it was a good experience. I think if you're willing to learn the program and sort out the controls it can make a very handy monitor slash controller for your camera. But it's not quit as simple as plugging in a monitor cable and turning it on. Keep that in mind if you plan to use this on a project with time constraints.
You can pick up the adapter cable here:
The DSLR controller app can be found here:
The Nexus 7 tablet can be found here:
Equipment used in this video:
Sigma 30mm f1.4
Sigma 24mm f1.8
Canon 16-36mm f2.8
Sennhieser G2 wireless mic