G1 and G7 BCs for a particular bullet refer to the respective aerodynamic drag models applied based on the corresponding “standard projectile” shapes. The G1 shape resembles a flat-based bullet whereas the G7 shape resembles a modern boat tail VLD bullet. Banded BC models work better where available, but you'll get even better results from an accurate custom drag model, so if the latter two aren't available, then use the correct G[x] model based upon your bullet's shape. It matters though the effect could be small based upon your shooting distance.