An alloy product having improved combinations of strength, density, toughness and corrosion resistance, said alloy product consisting essentially of about 7.6 to 8.4% zinc, about 1.8 to 2.2% magnesium, about 2 to 2.6% copper and at least one element selected from zirconium, vanadium and hafnium present in a total amount not exceeding about 0.5%, preferably about 0.05 to 0.25% zirconium, the balance aluminum and incidential elements and impurities. The alloy product, suitable for aerospace applications, exhibits high yield strength, at least about 10% greater yield strength than its 7X50-T6 counterpart, with good toughness and corrosion resistance properties typically comparable to or better than those of its 7X50-T76 counterpart. Upper wing members made from this alloy typically have a yield strength over 84 ksi, good fracture toughness and an EXCO exfoliation resistance level of "EC" or better, typically "EB".