Thanks Cool P,
I did find EPR T/O and rated thrust settings in the docs you mentioned.
And to your point about the CG issue,  the setting that FSXPaul used (empty_weight_CG_position     = - 9, 0, 0 ) brought the CG  to the nose of the plane when empty, which seems a bit off. Loading the plane with fuel does bring the CG further aft,  but I can't bring the CG into the wing area with any type of fuel configuration (using -9,0,0). Using default values, the CG is slightly forward of the wing center, which seems better.
With the new settings,  once loaded with TOW around 220k, it did require flaps and trim though to get airborne, which seems realistic.  With the default value, it didn't matter if you were fully loaded, you never needed trim or flaps to get off the ground. That doesn't seem right. With the -9, 0,0 CG value, the 707 is quite a bit more difficult to land being the CG is so far forward. But as you said, the default CG makes the trim much more realistic.
I can't say whats right or wrong of course. Perhaps Lou can help out here. Or someone who's dug up some data to support this?
thanks,
Brian