Indeed, I was pretty much asking for it. 
mgcss:
the 1N4007 isn't really an overkill. It is used as free-wheeling diode and it should protect against the inductive current when switching off the power on the coil. The current that is produced in this moment is much higher then the original source current. Here you can have 100 - 200 V for a very short moment. That's why it is always a good idea to use a 1N4007 for that purpose.
You, my friend, are very confused and befuddled about electronics and electrical theory.
Firstly, the current that the diode conducts, is the current that the inductor was passing immediately before the control device switched off. It it the potential collapse - that is reduction - of this current that has the ability to generate an EMF. The current will decrease, not increase.
Secondly, the diode never experiences the "back EMF" because it conducts to carry the collapsing current. The back EMF would rise to considerable values if the diode was not present. With the diode in place, the back EMF is limited to the 0.7V or so forward drop of the diode. All the diode is required to withstand in reverse, is the supply voltage which drives the relay coil.
Incidentally, the Wikipedia article on the 1N4001 series diodes mentions that they are very slow diodes. It may not be generally understood that this refers to their ability to turn off, virtually all diodes turn on immediately.