I don't think we'll see an FF7 remake, and what's more, I don't want one.
Why don't I think Square will remake FF7 in the next five years?
1. Producing a videogame is a horribly expensive procedure. Even though it might appear some work has already been done - the game is designed, written and translated already, after all - the meat and potatoes of development involves creating resources (textures, models, animations), implementing these resources and potentially tweaking the engine to make this implementation possible, and rigorous debugging. These are not simple things to do. FFXII cost upwards of forty million to produce - a VII remake would not cost substantially less.
2. But wouldn't it sell? That's the issue. Even assuming half the original owners of the game would pay for a remake (an *exceedingly* generous estimation), Square will still likely make less money from FFVII-2 than, say, a new FF game. What's more, Square would be spending money trying to consolidate on a fanbase who are already dedicated consumers, as opposed to expanding their market share.
3. With the PSN release available, the game fading into memory and critical perception rounding on the original game, as time passes, the prospects of a profitable FFVII-2 look increasingly unlikely. Square have already reached the ideal point for a VII remake, and they haven't offered one. Are Square idiots? No. Believe it or not, the legions of fourteen year old gamers banging on about a remake do *not* understand SE's finances and business prospects better than SE themselves. So what? Well, many of these fans, only two years ago, were just as certain that a remake would be a "sure bet" for SE, and had just as much reason - perhaps even more (seeing as there was no PSN release) - to argue that the time was ripe for a profitable remake. SE did not agree. The fans were likely wrong. Circumstances have not changed much. SE likely do not agree. The fans are likely still wrong.
Now, why am I *opposed* to a remake?
1. I worry that the voice acting will not be up to scratch. I was certainly *not* a fan of the voices - and altered characterizations - featured in the 'Compilation'. I imagine that these same voices and alterations will be applied, retrospectively, to a remake.
2. I worry that the Compilation takes itself far too seriously. The PS3 'tech demo' demonstrates this. FFVII might well become a victim of the myths that surround it - the fact is, neither the story nor script were ever as interesting or profound as fans would like to hope (I'm sorry, but try reading Sephiroth's actual lines again), and that by placing too much 'emphasis' on these moments, trying to offer 'fan service' in the form of extended Sephiroth appearances / dialogue, the game might well become a horrid parody of itself.
3. I worry that a PS3 FFVII release would likely be the first introduction many new players had to the series and genre, and that this would harm SE and RPGs in general.
Personally, I think that the conflicting demands of the fanbase would likely put SE in a difficult position. Half the fanbase wants voices; half do not. Half want a new translation; the others don't; some would like to see the mechanics altered; others think they're perfect as is; some won't pay for a game "they already own" - they want new material, dungeons and content; their opponents can't stand the thought of *any* change to the game; some want remastered, or Black Mages music - the rest want the original MIDIs. See the problem? Square would likely offend its followers, and many might even refuse to have anything to do with the Remake. This would make FFVII Mark 2 an exceedingly risky investment.
