If you’re looking for the most desirable new feature of 4.7, the “Interactive Progressive Rendering” pane, you’ll find it cunningly re-named in: Window | Panes (Tabs) | Aux View…
Even then Interactive Progressive Rendering won’t start until you tap the little arrow + lines icon in the top right of the pane. Enable “IPR”…
So far as I can see it’s independent of render settings. I had the render set for 600px, jacked it up to 3600px, and the Interactive Progressive Rendering pane was just as fast as before. As you can see here, it’s able to near-instantly preview water + reflections that are black in the OpenGL viewport…