Yeah, it's a bit of both.
GF7 cannot do OpenEXR+FSAA by default.
HL2 Loast Coast is not just plain OpenEXR HDR.
It's like some people naively saying that ATi couldn't do HDR during the GF6 series, they didn't understand the difference between HDR and OpenEXR implementation of HDR. It's all about the implementation/version of the effect and how AA is being applied (host based, reduced target based, etc).
We've discussed this a few times, another exception is AOE3 which can do HDR+AA, but once again it's a tweaked method of implementing HDR.