I have flown bigger Boeings that are much better than either the 737-300 or 700 in pitch control in level change (flight level change) and VNAV. I am no engineer and have no idea why, but assume there must be software differences that contribute.
Some at SWA claim that lack of autothrottles or other reasons are the culprit, but I don't think so. I have jumpseated in Cactus 73's where VNAV was properly used, but was suprised by the relatively abrupt pitch changes that I saw in comparison with a 747-400 for example. It is almost like Hal is always just a step behind. Throw out the gear in level change in a descent, and if you dont wind the speed back in the window immediately you will see some pretty hefty pitch down rates and descent rates to hold speed that other aircraft dampen out better.
Most likely because they have different boxes. I know our 737's use the Smith box and our 757, 767, and 777's use Honeywell.
VNAV (737's) works very well in the descent as long as the winds are updated and the altimeter setting is in. You only get screwed when you have 310 or greater in the descent and ATC tells you to slow and still make the crossing restriction.