Actually you can control the rate of ascent or descent with the autopilot(the big, round knob). Clicking the top of knob and very bottom of knob controls vertical speed. The 707 does indeed have altitude selector...you just "dial in" the altitude you want. Now, as far as the airplane flying the planned route shortly after take off, I suggest that you install CIVA INS. This is the sure-fire way of taking the load off while you are trying to maintain the correct vertical/air speed after takeoff. CIVA does a fine job of capturing the planned route and stays on it until you turn off altitude hold. Then you have to re-engage CIVA. Why it shuts down after turning of altitude hold is beyond me. Give it a try.