Not the behaviour I expected in a 737-800, given that it's so much younger than either the 767 or 747. Of course, we could then talk Airbus...though I must admit that I've come to like the way the 380 does it.
Here's a bit of behaviour to watch out for. It's come and gone a number of times over the years...
You build a descent, which passes through a holding point (eg, Bindook). You expect that you will be held, and put in a "B" height at that point. So, profile descent, next waypoint has (say) B250 in the FMC. VNAV PATH. ATC clear you to FL250, which is put into the MCP.
You'd expect the aircraft to level off at FL250, as it shouldn't ever go through the MCP altitude. But, in this case, it ignores the MCP, and simply continues to follow the path.