Ok here is a post that is relevent to our discussion here. As you can see from Qualcomm's own diagrams. The graphics is a core part of the MSM 7500 Chipset.
http://web.archive.org/web/20070203200058/http://www.cdmatech.com/download_library/pdf/diagram_msm7500_cs.pdf
http://web.archive.org/web/20061102061650/http://www.cdmatech.com/download_library/pdf/msm7500_chipset.pdf
Ok hopefully that diagram helps explain it better. MSM 7500 isn't just a processor it's a board standard. As you can see the Graphics core is a standard of the board. As for the 8 megapixel camera. The board is capable of that, but from the diagram you can see that it is dependent on the CMOS or CCD sensor used. Also why people think that since the Mogul has Wifi the Touch should have it but it's disabled. You can see from the diagram the WiFi is something that can be added through MMC/SD/SDIO interface of the MSM 7500 board.
So yes if you buy a device advertising the MSM 7500 chipset you expect your device to include what's on the MSM 7500 board you don't expect the items that can be added to the board. From reading the second PDF I listed you can see what Qualcom says is part of the board (features you expect a phone with the MSM 7500 to have), and what features are supported (i.e. you wouldn't expect unless the handset manufacturer advertises them).
Graphics and Video Codecs are integrated parts. The ability to support the 8 megapixel camera is integrated into the chipset, but the 8 megapixel CCD/CMOS sensor isn't.