"The D7000 is a great camera, but as some reviews have pointed out, it's very prone to blown highlights. I love the camera but hate the meter." -- Rob
You can find the full answer to your question here on TestCams.com. The writer compares how the Nikon D7000 exposes different scenes versus the Canon EOS 7D. His comparison and conclusions comprise three separate video segments which total slightly over 23 minutes. For those who would rather read a short summary, here it is:
What you may consider a "correct" exposure largely depends on whether you are primarily shooting RAW or JPEGs. If you're shooting RAW you probably prefer to "expose to the right," meaning you want to give a scene as much exposure as possible without blowing out any of the color channels. The reason for this is that you have more data bits to work with when you subsequently adjust the image in Photoshop, Lightroom, Aperture, or whatever other raw developer you prefer. There will be less noise in the image overall and a lot less in the shadows. You're less concerned about how the image looks on your image preview than how it looks after you've finished processing it.
In this example the D7000 actually did overexpose by about a half-stop, mostly because of the leaves in shadow at the top and right side of the image. The highlights on Philadelphia City Hall are clipped in the unprocessed RAW file and the JPEG you see here.
Here's how the same image looks with the exposure pulled back a half-stop and with the shadow brightness boosted by about two stops to show off the amazing dynamic range. You can take your pick as to which version has the more "correct" exposure.
In this respect the Nikon D7000 does just what a RAW shooter would want it to: It exposes as far to the right as it can. In scenes that have a broad dynamic range you may never notice this because this camera does its best to fit the whole range between the left and right extremes of the histogram. In low-contrast scenes--those with a short tonal scale--the narrow range of tones is shifted to the right and therefore looks brighter than you expect. Again, it isn't actually "overexposed" because none of the color channels are blown and you can easily reduce the brightness later.
If, however, you're shooting JPEGs, then the exposure and dynamic range are pretty much baked in. You will want the exposure to correspond to the original scene brightness from the beginning. Although you can still darken an over-bright exposure a bit in post-production you would probably prefer not to, otherwise why would you be shooting JPEGs?
The D7000 has a tendency to exacerbate this exposed-to-the-right JPEG issue if you have the camera set to one of its JPEG picture control styles such as Vivid or Landscape, which boost saturation and contrast. Highlights that are a tad too bright become irretrievably overexposed. You can counteract this tendency by setting -0.3 to -0.5 exposure compensation. Unfortunately, if you use the same setting with high-contrast/high dynamic range subjects the result will be underexposure.
Finally, note that this automatic expose-to-the-right tendency happens only if the camera is set to matrix metering. If you use center-weighted or spot metering then the calibration is the same as for any other center or spot meter. You could probably shoot JPEGs all day long with only minimal adjustments for subjects that are lighter or darker than average.
So does the Nikon D7000 have an overexposure problem? I don't think so, but JPEG-only shooters who use matrix metering might. My advice to you, Rob, is to carefully review the videos on TestCams.com and then, depending on what type of shooter you are, adjust your camera accordingly. You might find yourself falling in love with it all over again.
In anticipation of those who want to know whether the Pentax K-5 shares the same tendencies, the answer is no. JPEGs are exposed more toward the center than to the right. As a consequence, the most extreme highlights and shadows in high-contrast scenes get clipped. If you wanted to retain all highlight detail in your JPEGS you might feel as if the K-5 was overexposing. If you wanted the mid-tones to be in the middle you would probably think the exposure was just right.
In short, the answer to whether any given camera is exposing correctly will depend on how you personally define "correct." As long as your camera behaves predictably--and almost every decent camera I've ever used does--then you should be able to anticipate what it will do and shoot accordingly.