It was surpassed during its time by other not well known games. Sega Saturn FTW.

The main thing FFVII stands to gain from a remake is a new translation, although it also could end up as excessive as the retranslation of Final Fantasy Tactics. (Well, maybe not, since it's approximately modern day in tone, but it could still be overwrought.) That said, I enjoyed it when I was 15, but I think VI is the pinnacle of the series, and that the music started going downhill from VII onward.
(And ripping bits and pieces out of the Carmina Burana? That's just silly.)
Also, was it just me or did Aeris only care about getting in Cloud's pants? I know her fanbase is legion, but she always annoyed me. Now, if you'll excuse me, I'm going to beat the torch-and-pitchfork rush and retreat to my fortress. You know the one, with flameproof walls and a three-foot-thick lead door.
(Side note: of the main FF series, the only ones I haven't played are VIII and IX. (Not counting XI or X-2 as main series.) X and XII I couldn't get more than a few hours into before the boredom set in. On the other hand, I can still pick up and enjoy pretty much any of the pre-32-bit titles -- remakes included.)

I can't stand X and XII too.

my order of favoritism in Final Fantasy
(top being most enjoyable, bottom being the least)
Final Fantasy Six
Final Fantasy Nine
Final Fantasy Five
Final Fantasy Eleven
Final Fantasy Four
Final Fantasy Seven
Final Fantasy Three
Final Fantasy One
Final Fantasy Two
Final Fantasy Tactics
Final Fantasy Twelve
Final Fantasy Ten
Final Fantasy Mystic Quest
Final Fantasy Eight
Final Fantasy Crystal Chronicles.

I really, Really like the job system in Five. :D

Tactics isn't part of the main FF series, but I thought it refined the job system beyond FFV's implementation. If you don't like the job system in V (and I did), though, there's probably not much reason to play it unless a) S-E can do no wrong in your eyes, or b) you're a rabid completionist.

Tactics does a very good job of refinding the job system, you're right, I just really did not like the storyline or Tactic gameplay. I don't really enjoy those types of games, from Metal Gear Card Collector for PSP to Disgaia, I have never enjoyed that style of play.

That's fair enough. I dig TRPGs like FFT and Disgaea, but it definitely isn't for everyone. (As if much of anything is.)

Why in the world are there so few people who dont like FF8? its my personal favorite.
only bad thing in it, is that the enemys scale in level, so you cant buff up before a hard boss, because the boss gets tougher too..

I just LOVE SRPGs like FFT or Disgaea. ^____^ (My favourite one is Vandal Hearts)

or you know, the major plot hole ala, "oh we forgot we were grew up together"

All I remember from FF8 is the cowboy guy taking a shot at the witch and her deflecting it with her magic shield, I still think that is an awesome CG vid. I don't think I got far enough to know about the growing up together although I heard about it, I still loved it though, 8 and 9 are both great in my opinion.

This. Also, the magic system sucks sooooooo much.

I should mention that I never played the original FFVII. That's why I'm so desperate for a remake. Theres no way I'm EBay hunting for the original FFVII and a PSOne just so I can play a 10 year old game. However, considering it's a Final Fantasy title(not to mention that it's widely considered the best in the series) I feel like I'm contractually obligated to at least try it.
Also, the fact that it was on three disks shouldn't be a problem since many, many times I've seen DS games that surpassed the graphics of PSOne games by leaps and Olympic bounds.