Forgive me for being 'asleep at the switch' for the past week or two. Have been totally wrapped up in the all too real business of making a living.
One classic Minolta lens that is widely considered a 'must have' is the 70-210 f/4 - one of the sharpest lenses ever made by anyone for any camera. This early Maxxum lens (meaning they were made from 1985 thru about 1993 or so) was derived directly from an earlier MD-mount version, so it is metal construction and it is heavy - every ounce of a full pound, and built like a tank. That weight balances nicely in the hand with the Max 7, though. There are many Mint examples out there to be had - typically in the $60-$80 range.
#2 on most user's lists is a direct companion for that one - the 35-70 f/4, which runs about the same price - or its successor, the 35-105 f/3.5-4.5, which runs on the upside of $100.
My pick for #3 would be ANY genuine Minolta lens that covers a need not addressed by the first two. A good example of this would be the 50/3.5 Macro lens. This one is still available new, at about $300. Consider yourself blessed if you land a mint used one for half that amount - as most owners just won't part with them.
The closest match for your '50-300' desire that I can personally recommend, is the current plastic-shelled 75-300 f/4.5-5.6, which runs $169 new at B&H. I got mine as a refurb for $97, so look around. This one is half the weight of the 70-210 classic I listed as #1, and the optics are almost as good. These are also widely available in a 'D' version, which provides distance encoding information for enhanced metering with certain flash units.
I am no fan of Sigma lenses - but that new line they've announced, driven by the popularity of the 7D DSLR, does have some interesting entries coming. Everything I've seen created for the Maxxum mount thus far, is still designed to provide a full-frame image circle - I have yet to see any that are chopped specifically for the 7D's APS-sized sensor. The main difference in a new 'digital' lens will be in the lens coatings - tailored for the different color sensitivities of digital sensors, and thus may not be as desirable for Film use.