the only problem I see with this is that you really need the 3rd to
establish the harmony as F7.

I myself don't find it useful because it contains two 5ths...pretty
redundant and thick sounding, and without the 3rd there isn't to
much movement in the voices.

I would suggest this, which is just as easy to grab and fully
establishes the dom7 sound:

F7

Also, for the other poster, yes, if you add the G note on the high
E string it would be an F9 IF the 3rd was present. Other wise,
yes, it would be a sus2 or perhaps and add2, IMO:

F7sus2

I think I would like to call it F7sus2? In any event, it's a cool
voicing....I like it, especially when you drop the 5th (the C note
on the A string) which makes it sound a little to thick in my
opinion (ooh....might sound cool with distortion though!).

Peace,

Rob

Yeah, I tried it clean and with a little bit if crunch, not over-saturated. It was very thick either way. It also fit nicely with maj7th chords up the neck.

Hopefully, people keep our little string going here, because I'm learning volumes about chord structure from this!

try this for a ii/V/I in Bb:

Cm7

F7

Bbmaj7

The Bbmaj7 has the 5th in the bass. Notice on the F7 you could do
a little pull off to the 9th at the 3rd fret of the 1st string.

keep pickin,

Rob