Yes, when I think of the Magnificent Seven, I think of the Team USA gymnastics team that was the first ever to win Olympic Gold in Atlanta in 1996. The entire team was deep. Amanda Borden would have been a star on any other team, and she was only one of seven talented girls in 1996. They are the true Mag 7 and paved the way for the next 20 years of success in USA gymnastics.
The first thing that I and I think most people would think of when hearing "The Magnificent Seven" would be the USA gymnastics team of 1996. They are very famous for their success at the Olympics, an event that gains national and international attention. This makes the more prominent than the move "The Magnificent Seven".
When I hear "The Magnificent Seven" I think first of the USA golden gymnasts. I remember watching their performances, especially Keri Strug's vault with an injured ankle. I know there is a movie with the same title, but that's not the first thing I think of when I hear it.
The Magnificent Seven is one of the defining series in the Western genre. The theme tune is enough to stir up images of cowboys riding on horseback across the plain, on to new adventures. Perhaps those who follow sports more closely would have a different opinion, but the two are never linked in my mind.