It should not matter which contract you play. Both are makeable, just play 7S as you would 7N. When the hand was played at the time, I thought declarers chances should be 100% on the lie of the cards, since they are World Class declarers and defenders. But, if I remember correctly, they both proved me wrong by going down.
Win the opening lead, in NT, cash the minor suit winners first (pitching 2 hearts from the North hand), then the spades ending in the North hand. In spades, draw 3 rounds of trumps, then minor suit winners, then the last spade in the North hand.
In either contract, West will be able to pitch 1 diamond on the 3rd spade, but has nothing but hearts left to pitch on the last one.
Declarer should ask themselves,
Q. "Why is West pitching a heart here?".
A. "Because he has nothing else left to pitch, so he started with 4 hearts". This is the most likely answer, although there is another reason (see below).
You are now down to this position:
When declarer leads a small heart towards the AJx and the 10 comes up, declarer should rise with the A, and then run the Jack. This contract should have been a lock for both declarers. If West has brightly pitched a heart from xx to plant the idea in my head that he started with 4 hearts (which a World Class defender may well do, since he knows I have a problem in hearts by this time), I pack my bags and go home.
I see no reason not to cash all the spades regardless of whether your contract is 7S or 7N. If the hearts are 3-2, you will still be on a guess when you get down to 3 cards. If you guess wrong at this point, you will be down 2 or 3. So what? But when West is forced to pitch a heart on the 4th spade, I will stake my chances on the fact that he held 4 hearts originally.