B737-400 FLT CREW HAS MCP (MODE CTL PANEL) FAIL DURING CRUISE AND DECLARES NON-RVSM CAPABLE.

Narrative

DURING CRUISE AT FL350 IN MOSTLY CLR SKIES DURING DAYLIGHT HRS THE B AUTOPLT TRIPPED OFF. WE BOTH NOTICED THAT THE MCP PANEL WAS COMPLETELY BLANK. WE TRIED TO ESTABLISH EITHER AUTOPLT TO NO AVAIL. WE RECYCLED THE FLT DIRECTORS BUT HAD NO AUTOPLT AND NO MCP. I AS THE PNF WENT TO THE QRH AND THE MCP LOCKUP ABNORMAL PROC. AFTER REVIEWING THE PROC AND DECIDING THAT IT TAKES AWHILE I NOTIFIED ATC THAT WE WERE UNABLE RVSM. THE VANCOUVER CTR CTLR SAID NO PROB MAINTAIN FL350. I THEN RAN THE QRH PROC PULLING AND RESETTING 2 CIRCUIT BREAKERS AS DIRECTED. THE MCP PANEL DID NOT RESPOND AND AS PER THE QRH WE CONSIDERED LNDG AT THE NEAREST SUITABLE ARPT. SINCE THE QRH ALLOWS THE USE OF VOR; NDB; OR VISUAL APCHS AND SINCE WE WERE DAYLIGHT VFR AT THE TIME AND NAV; AND ACFT CTL WAS NOT A PROB WE DECIDED TO CONFER WITH MAINT CTL AND DISPATCH PRIOR TO REACHING A DECISION. THE MAINT TECH WAS UNABLE TO RESOLVE THE PROB AND WE WERE HANDED OFF TO DISPATCH. THEY CONFERRED WITH OPS AND THEY AGREED WITH US THAT UNDER THE CIRCUMSTANCES OF BASIC VFR WX AT SEA A VOR RWY 16R OR VISUAL WAS ACCEPTABLE. WE BOTH FELT COMFORTABLE THAT WE COULD EXECUTE AN APCH TO BASIC VFR CONDITIONS WITH THE EQUIP AVAILABLE TO US AND THAT IT WAS A LEGAL COURSE OF ACTION. WE BRIEFED THE VOR RWY 16R APCH TO VFR CONDITIONS AND THEN ACCEPTED RADAR VECTORS TO A VISUAL AT SEA AND LANDED WITHOUT INCIDENT. BOTH OF US DECIDED TO FILE A RPT BECAUSE OF OUR DECISION NOT TO LAND AT A NEAREST SUITABLE ARPT. WE BELIEVED THAT THIS WAS ONLY A CONSIDERATION AND NOT A DIRECTIVE TO LAND PERIOD. IN ADDITION; AFTER HAVING CONFERRED WITH THE ABOVE MENTIONED PEOPLE AND REACHING AGREEMENT WITH THEM THAT OUR COURSE OF ACTION WAS PRUDENT AND LEGAL WE DECIDED TO CONTINUE TO OUR DEST. I FELT THAT WE HANDLED THIS EVENT CORRECTLY AND USED APPROPRIATE CRM AND TEAM BUILDING AND THAT OUR COURSE OF ACTION WAS SAFE AND LEGALLY COMPLIANT WITH FAR'S AND COMPANY PROCS.