I have sensitive skin myself, and I used the Series 7 for several years. Have you changed the shaving head of the Series 7? Braun claims that it lasts for 18-24 months, but I had to change it every 12-14 months to avoid pinching and irritation.
The Series 7 has three settings. Try using one of the lower ones, if you haven't done that already.
I moved to a Series 9, which I found a little smoother and a little quieter.
Have you tried a pre-shave lotion? The one I use is "Speick Men Pre Electric Shave Lotion" and can be found on Amazon. It does reduce irritation for me.
Also, using a moisturizer after shaving helps my skin. I have used Lubriderm Men's 2-in-1 Lotion (Unscented), which was cheap (US$6.50 for 16 oz.), but it seems difficult to get now.
If you don't have the cleaning station, the Series 7 may not be lubricated sufficiently. You can use Philips Norelco Shaver Head Cleaning Spray (HQ110/42) about once a week to take care of that.
Good luck!