7 hrs labor? Wow! I can believe it would take ME 7 hrs, but I'm a slow-poke shade tree home mechanic with amateur tools. I'm thinking 3 hrs tops for a pro, to replace water pump & belts. Oh, well, maybe they are at least using that time to do you a really good job with a pressure test, checking and/or replacing idler & tensioner pulleys, etc., to rule out other problems.

Do hope you suffered no engine damage. Once it's run hot like that, keep an eye on your hoses and radiator for leaks over the next few weeks/months. My wife's X5 ran hot back on Easter Sunday due to a failed upper radiator hose flange. Radiator started leaking on the side shortly after that, and I had to replace it. I'm looking to go ahead and replace all my other hoses now, too.

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2009 X5 3.0
2001 X5 4.4 - Sold