>I have recently discovered visual and coded classes in VFP6 and find them extremely useful. Is it possible to create a base class based on a report, or create container classes to drop on a report as can be done on a form? Does Vfp7 have that capability?

No, no and no.
The only "OOP part" of the report is it's DE. The rest of the Report Writer didn't change much since FPW 2.6.