Hi, Jan.
From my understanding, you are looking at the 707 following the ILS signal and therefore "landing" somehow.
But since she has no Autothrottle for example, the autolanding of the plane isn't possible or permitted. So "following the ILS" and the actual Autoland are two different ballgames here since the following (not landing) is permitted and possible on various planes for good reasons.

I'm no pro on this but that's my assumption on her and the 727 for example.
You could follow the Flight Director when the weather is above certain minimums and you can even have the Autopilot fly the plane towards a certain height or distance, but the actual landing will be your job, always. The FD may be on in this situation, the AP won't.

Maybe Lou can point out the procedure and correct my assumptions if they fail here.  :-/

Famous first birds (in the Autoland aspect) were some European ones I think, e. g. the Concorde, which could perform a true Autoland and was permitted to do so.
I think the whole Autoland issue was raised in the UK, having bad weather and dense traffic coming together most of the time, so it seemed like a more than neat feature to be able to operate at otherwise "closed" airports.
I remember there was a British Airline having a whole fleet with that feature, so they were allowed to operate while their competitors had to divert or stay parked.

Nowadays, the smaller airliners use the FD together with some HUD to allow worst weather operation, while the bigger models of course have Autoland available.
The categories (CAT) then define the weather minimums where the systems are permitted to operate.