My band is looking to put out an EP this summer and there are mixed feelings as to how many songs should go on the EP. The options are 5, 6, and 7. What do you think is too much? too little? Typical song duration is 4:30 to 6:30. Would you rather hear 5 quality songs or 7 songs, but with two that are kinda filler tracks, which are also decent tracks? What option would be most effective for getting to the next level, meaning, getting on a small independent label. Would it be more effective to present to a label a 5, 6, or 7 song EP? I know this is probably open ended and there is more to each scenario. I'd just like to hear what everyone thinks.

By that logic, I have plenty of 10 song "EP's".

I'd go with 5 songs, and if you're using it as a demo to give to a label, they usually don't listen to demos with more than 3 songs.
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I'd go with the five songs of better quality. Maybe by the time you're ready to record again, the other two will have been refined.