Why spend extra dev. time, money and men power just to remake an old game when the same amount of resources can be used to create a new title of the same quality?
Or.. if Square Enix can no longer make games of FFVII's quality, how is the remake going to be any good?
Since most of us have spent hundreds to even thousands of hours within this game, it will take a lot more than just new graphics to brought out that "Brand New Adventure" feel which we've experienced 10 years ago.
for people stating that Square-Enix did a good job in remaking FFIV for the DS, please remember that the FFIV is a title with much simpler structure and scale and was based on a much low end system(SNES) than FFVII, given the DS' hardware spec, the new conversion isn't entirely high budget either. If Square-Enix truely plan for a FFVII remake? Prepare for some major(and expensive) overhauls.
I think the plot of FFVII has been overly complicated recently with the release of sequels prequels, movies and animes, they rather ruin the atmosphere of the original game, seeing the direction Square Enix took without the original developer, and the disappointing FFX-2, I would feel better if Square-Enix leave the past series alone...