I uninstalled and reinstalled the game and applied the patches. The game will show the Eidos stuff then freeze. Here is the log:
INFO: FF7/FF8 OpenGL driver version 0.7.7b
INFO: Auto-detected version: FF7 1.02 US English
INFO: NVIDIA Corporation GeForce 7900 GS/PCI/SSE2 2.1.2
INFO: OpenGL 2.0 support detected
INFO: Found swap_control extension
INFO: Original resolution 640x480, window size 640x480, output resolution 640x480, internal resolution 640x480
INFO: FFMpeg movie player plugin loaded
INFO: FFMpeg version SVN-r21874, Copyright (c) 2000-2010 Fabrice Bellard, et al.
LOCK UNLOCK TEST
MATRIX INITIALIZE
INITIALIZE DD/D3D END
initializing sound...
creating dsound primary buffer
reading audio file
loading static sounds
sound initialized
INITIALIZING MIDI...
selecting device 0:Microsoft GS Wavetable Synth, mid=1, pid=27,
midi data type: GENERAL MIDI
using midi data file: C:\Program Files (x86)\Square Soft, Inc.\Final Fantasy VII\Data\midi\midi.lgp
midiOutGetVolume returned: ffffffff
MIDI INITIALIZED
set music volume: 127
MIDI set volume: 127
100% of 127 = 127
set music volume: 127
MIDI set master volume: 100
MIDI set volume: 127
100% of 127 = 127
Entering MAIN
Exiting MAIN
START OF CREDITS!!!
INFO: D:\FF7\Movies\eidoslogo.avi; truemotion2/pcm_u8 320x240, 15.000000 FPS, duration: 10.133333, frames: 152
set music volume trans: 127->0, step=60
MIDI set volume trans: 127->0; step=60
MIDI stop - OK
MIDI stop - OK
END OF CREDITS!!!
Entering MAIN
set music volume: 127
MIDI set volume: 127
100% of 127 = 127
Exiting MAIN
START OF MENU SYSTEM!!!
ERROR: COULD NOT CHANGE TO DIRECTORY C:\Program Files (x86)\Square Soft, Inc.\Final Fantasy VII\save
ERROR: could not open file C:\Program Files (x86)\Square Soft, Inc.\Final Fantasy VII\save/save00.ff7