I'm not being "generous". If anything, I just think you're using an overly ambitious definition of "supported".
Oracle isn't going to guarantee your Windows 7 install works or help you debug issues. And running an OS non-accelerated is a perfectly valid and functional way of doing so, even if it doesn't fit your personal metric of usability.
Regardless, you implied that something changed for the worst. VBox offers as much "support" in version 7.0 as they did in 1.0. If anything it's better today as VBox used to be unbearably unstable in VESA or SVGA modes:
https://forums.virtualbox.org/viewtopic.php?t=83281
And running 16-bit applications (WoW/ntvdm) on 64-bit VBox installs used to crash the whole machine (or run unbearably slow) due to incomplete CPU emulation, something that has since been remedied. A feature that only old 32-bit Windows OSes use.