The DNG converter requires that the camera be supported and the D7200 isn't yet. It's a shame that Nikon doesn't work with a company like Adobe and release their new NEF formats to them in advance so that ACR can be updated in short order after the camera is released. It's not like Nikon's software will ever compete with their image editors. I work with other companies all the time and establishing an NDA so that there are stiff penalties if the new formats are revealed ahead of time, so I don't understand why Nikon won't do it. Canon support seems to come right on the heals of their releases. It's a PITA and one reason I won't buy a body in the first month or two. Even then, I was waiting another 3 weeks with my D750.
The hack is still a hack and alters the original file, which effectively negates any ability for you to use the photo in some competitions where an unaltered original needs to be submitted - unless you keep two copies of everything. Even then, you need to manually edit every photo you want to import. Or use ViewNX to purge off the extras first and then edit and then import. Like I said, PITA.