Alternative to the Inline module
There is a Drupal 7 version of that module, it's just in dev at the moment. 

I think it's highly unlikely someone else will be developing a competing module along side the development of this one. 

I'd advise downloading and installing the dev version of the module, if you get any errors report them back to the issue queue to help push it along.

You can actually check the current issue queue to see if there are any known problems that may stop you being able to use this in your new site...at least you'll know as early as possible.