To make the changes to the panel.cfg, copy it from the FSX\SimObjects\Airplanes\CS_B727-100\panel folder to you desktop. Make another copy of the file (for backup purposes, then make the changes and save. Now copy the modified panel.cfg to Cs_B727-100\panel folder and paste it in there. When asked select the option to replace the original file. You might need to click on continue if it asks about administrative rights.

Let me know if that helps. Otherwise I need to come up with another idea.

As for Acceleration on a Windows 7 OS, it's up to you. I have Windows 7 Professional 64bit and I have FSX & Acceleration installed on my system. So you can install it if you want to. ;)

Mark