"...would it be possible for me to create a standalone DOS 7.10 installation disk(s) from the windows/DOS cdroms..."
Sure. The following assumes you have some level of dos expertise.

You'd need to gather all the files which are in the c:\windows\command directory. Either capture them to a cd or floppies from an existing 98SE installation, or extract them from the cd cab files. (Long process.)

Use a 98SE bootdisk to sys the target machine. Then create the following dirs on it;

command
mouse

Then msdos.sys must be modified. Here's mine;

[Paths]
HostWinBootDrv=C

[Options]
drvspace=0
dblspace=0
BootMulti=0
BootGUI=0
BootWarn=0
Network=0
LOGO=0
DoubleBuffer=0
WinVer=4.10.2222
Bootkeys=1
;
;The following lines are required for compatibility with other programs.
;Do not remove them (MSDOS.SYS needs to be >1024 bytes).
;xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxa
;xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxb
;xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxc
;xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxd
;xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxe
;xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxf
;xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxg
;xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxh
;xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxi
;xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxj
;xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxk
;xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxl
;xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxm
;xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxn
;xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxo
;xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxp
;xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxq
;xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxr
;xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxs

Then create your config.sys and autoexec.bat files. 
CONFIG.SYS (Mine - alter as you see fit.)
===========
::(NOTE - the ",noauto" at the end of the dos=high,umb,noauto line is important so ifshlp.sys doesn't run.)

[COMMON]
SWITCHES=/F
break=on
lastdrive=z

SHELL=c:\COMMAND\COMMAND.COM c:\command\ /E:512 /p
DEVICE=c:\command\HIMEM.SYS /q
device=c:\command\emm386.exe d=64 noems frame=none I=B000-B7FF
dos=high,umb,noauto
devicehigh=c:\command\ansi.sys
FILEShigh=40
stackshigh=9,256
DEVICEHIGH=c:\command\VIDE-CDD.SYS /D:IDE-CD

AUTOEXEC.BAT (Mine - alter as you see fit.)
=============

@ECHO OFF
PATH \;C:\command;D:;D:\BATCH;D:\GHOST;D:\TOOLBOX;E:;E:\PKWARE;
::
IF EXIST C:\bootlog.* c:\command\DELTREE/Y C:\bootlog.* >nul
IF EXIST C:\SCANDISK.LOG c:\command\DELTREE/Y C:\SCANDISK.LOG
IF EXIST C:\TREEINFO.NCD DEL C:\TREEINFO.NCD
::
IF EXIST D:\SCANDISK.LOG c:\command\DELTREE/Y D:\SCANDISK.LOG
IF EXIST D:\TREEINFO.NCD DEL D:\TREEINFO.NCD
::
IF EXIST E:\SCANDISK.LOG c:\command\DELTREE/Y E:\SCANDISK.LOG
IF EXIST E:\TREEINFO.NCD DEL E:\TREEINFO.NCD
::
::
SET TEMP=c:\TEMP
SET TMP=c:\TEMP
ECHO.EXIT|%COMSPEC%/K PROMPT $_ $_ $D$_ $_ $T$_|FIND " "
ECHO.
SET COMSPEC=c:\command\COMMAND.COM
SET DIRCMD=/a-d/o/p/v
SET COPYCMD=/V/-Y
LH c:\command\MSCDEX.EXE /D:IDE-CD /M:10 <-- This line should be before the mscdex line
c:\command\SMARTDRV 4096 16
LH c:\command\DOSKEY/INSERT/REINSTALL
LH c:\MOUSE\GMOUSE
EXIT

Dump all the c:\windows\command files you captured previously into the new c:\command directory. Dump your dos mouse drivers into c:\mouse. When you're finished it should be a bootable, fully functional DOS 7.10 machine. If you have a sound card with dos drivers, get the appropriate files onto the new machine and alter the config.sys and autoexec.bat files to accommodate.