Yes, yes. Japan wants a Final Fantasy VII remake. Maybe you want a remake, too. This we know! But is it possible? Well, of course, it's possible. But what are the chances of it actually happening any time soon? Square Enix's Yoshinori Kitase, director of the original FFVII, says:
My feelings are that if a remake were to work well then all the core members of the original team must be reassembled, all the artists and designers.
The problem is that, although all of us have an idea of what a remake should be and how to do it, organising such a thing right now is logistically very difficult. All the different members are now involved in very new, very large projects like Final Fantasy XIII and those projects are going to take a while.
Maybe, when all those games are finished then we can look at doing something like that.
Of course, that said we came up with the idea for Crisis Core in just two days. It was a case of 'this is what we want to do, so let's do it'. So, you can definitely expect the probability of something spontaneous happening at some point, but it's hard to predict.
With the remake-happy way Square Enix is going these days, you can bet there's eventually going to be a FFVII. Reassuring to know that Kitase wants to do it in-house with the original team.
Kitase Interview [Bit-Tech]