The debug packet command has been deprecated from 7.0 in favour of the capture command. The capture command is a lot more powerful than debug packet, enabling you to capture traffic in complete Sniffer-type format. Plus the debug packet command puts a hefty load on the PIX CPU whereas the capture command doesn't.
You can look at the basic capture packet via the console, but there's no way to see the full detail of the packet unless you use tftp/http.