We do not use vertical nav on our jets although all -300's, -500's and -700's are using LNAV. neither do we have A/T enabled but we do use the Autobrake RTO function.
Lots of theories why we do it this way, some same cost of mx, some say the old school "if it ain't broke don't fix it, we've always done itthis way" Others tell you that Boeing cannot produce any data that supports the fact that A/T save any money at all. Others will tell you that while we still have -200's on the property (until I think sometime in 2004) the FAA want them all to be as similar as possible. Our NG efis is a digital representation of round dial steam driven instruments. Apparently with the demise of the -200's all remaining aircraft will be retrofitted with flat panel displays, true EFIS? Don't know.
Level Change does work although as it is just half a system given no VNAV and A/T it doesn't work well. most use it while hand flying the aircraft to give pitch info for the command bars on the Flight Director, that way you can smooth out some of the erratic pitch changess. Actually once established at an attiude and thrust setting LVL CHG doesn't do too bad of a job.
We hand fly Cat 111a approaches on the HUD too.
We may not be the most technically advanced in the industry but we have zero debt and making more money than the rest of the industry combined, so I gues we're doing something right.
Hope that answers your question.
G-ONADS