So far, the display gives no indication that the AP knows where the edges of the road are, anywhere in the neighborhood.
Talking about behavior on curving roads on hills, there is one stretch of road near my house where AP refuses to hold the set speed, even though the curve and elevation changes are minimal, the roadway is very well marked and the display shows that the AP knows perfectly well where the lane is. Instead, even while steering smoothly the car lurches a bit on the longitudinal axis, constantly changing speeds +/- one or two mph at a time. It's weird, and quite repeatable.
I should add that this is new behavior since 7.0 was installed. Previously, TACC had no trouble holding speed through that section.