To delete your profile connect your Edge to your computer. I dont have mine here to verify this but I seem to recall that in one of the directories on your Edge (not the SD card) there is a file called profile.??? (??? = I don't rememeber extension). Delete this file then perform then perform the hard reset. Hard reset is accomplished by pressing both the power and mode buttons while the Edge is turned off. When prompted select yes to reset the device. Once this is done re-install the 2.7 update.

I dont think you should have to revert back to 2.6 but if we cannot get your Edge working correctly then that may be the best bet.

To go back to 2.6:

a) download this file: http://www8.garmin.com/software/Edge605_705_260.gcd

b) Hook the 705 to your USB cable.

c) Rename the file you just downloaded to "gupdate.gcd" and place it in the GARMIN folder (not the root folder) of your 705 when it is hooked up to the PC/MAC.

d) Unhook the 705 from the USB cable and power it on. The "Software Loading" screen will come up. DON'T disturb the 705 until this process is finished which can take a few minutes. During this process, the unit will shut itself off and turn itself back on. Don't touch it.

e) After the unit does its update and reboots itself, confirm everything appears to be normal and do another hard reset. This might be the most important step.

EDIT: The profile file is in the profile folder and is called UserProfile.TCX.