Historically, Apple supports machines for 6 years, however they've broken this trend with Mavericks; the system requirements didn't change from Mountain Lion. Yosemite also doesn't change the system requirements, so iMacs from 2007 will still be supported up to Q4 2015, for example.
Not really a huge break from support policies. On the hardware side Apple's Vintage/Obsolete policy is no mystery.
"Vintage products are those that were discontinued more than five and less than seven years ago.... "
http://support.apple.com/kb/ht1752
Once the hardware goes on vintage/obsolete list there is generally no rational business reason to keep supporting software on those configurations. Even less rational when that would be free ( no charge ) support. Obsolete hardware is pulled from regression QA testbeds. Not just at Apple, when hardware hits other vendors' vintage/obsolete lists the firmware/driver/software updates typically stop there too. This isn't an "Apple thing".
Apple has dropped software support faster than going onto the vintage list. (e.g., PPC based Macs ), but there should be little to zero expectation that it is going to go longer than hardware support.
The iMac 2007 probably will get dropped next year as it moves onto Vintage list qualification status. The relatively recent sags in iMac sales (i.e., missing $1000 border offering) probably help stretch the 2007 models out this far ( as substantive block of folks not moving forward). The OS going to 'free' and expanded coverage is in large part to get the pool of users on the OS larger. While the "newest version" adoption rate is much higher than Windows, they have needed boosts to keep the rate higher.
Looping back to the MP 5,1 .... there is highly likelihood that it is going to hit the vintage/obsolete list as soon as possible given the guidelines. Much closer to 5 than the 6 (maybe 7) allowed. Intel has already put the W3000 CPUs on their vintage/obsolete list. The rest of the hardware standard components are quickly going that way also.
This handwaving in this thread about the 3rd party doo-dads can bolt onto a standard config to kludge around obsolete/vintage/out-of-modern-compiance hardware issues has little to nothing to do with professional software QA testing. In vast majority of cases there is no budget for tracking a growing number of permutations of a standard config over time. Even less likely when the software is "free".