Try to use Memoria to replace the sound files and ask DLPB how he has done the ripping of the sound from FF7 (as he pointed out the psx changes the sound in real time).
Yeah, it's all smooth and easy, 'till you find out about the time intervals.
Simply replacing a spell like: "Holy" sfx will not do And there's many many more. That one spell had to be broken into four parts to work properly in game. Not to mention the battle's slower FPS makes the timing of the original PSX sfx to play at the spell length. Only Memoria Mod with fixing the battle FPS could solve that problem. Holy seems to be the only spell that's animation was slower than the psx.
The part se200177 (whichever one it was) I had to leave the reserved "blank" sound at the start of audio then let it play at the end. To get it match closely and accurately as possible.
The sound mod is going along with the mod I'm doing. So if you can handle some new custom sfxs including the menu sounds.
...It could be released. I'm sure you'd pick a major bug fix over a few custom sfxs used.
Or not. If you still want to hate the fact the sound will have some custom sounds in it; then of course it will not be released.